Scotiabank Issues Positive Forecast for SolarWinds (NYSE:SWI) Stock Price

SolarWinds (NYSE:SWI - Get Free Report) had its price target increased by research analysts at Scotiabank from $13.00 to $15.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "sector perform" rating on the software maker's stock. Scotiabank's price objective suggests a potential upside of 4.54% from the stock's previous close.

Several other analysts have also recently issued reports on SWI. Royal Bank of Canada increased their target price on SolarWinds from $13.00 to $16.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Wedbush started coverage on shares of SolarWinds in a report on Thursday, December 19th. They set an "outperform" rating and a $20.00 price objective for the company. Finally, Robert W. Baird boosted their target price on shares of SolarWinds from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $15.50.

SolarWinds Stock Performance

NYSE SWI traded up $0.30 on Tuesday, reaching $14.35. 397,054 shares of the stock were exchanged, compared to its average volume of 421,996. The firm has a market capitalization of $2.45 billion, a PE ratio of 65.22 and a beta of 0.94. SolarWinds has a one year low of $10.14 and a one year high of $14.94. The company's 50-day simple moving average is $13.97 and its two-hundred day simple moving average is $13.03. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88.

SolarWinds (NYSE:SWI - Get Free Report) last released its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The company had revenue of $200.03 million for the quarter, compared to analysts' expectations of $194.03 million. During the same quarter in the previous year, the company earned $0.11 EPS. SolarWinds's revenue for the quarter was up 5.5% on a year-over-year basis. Analysts expect that SolarWinds will post 0.74 EPS for the current fiscal year.

Insider Activity

In other SolarWinds news, CEO Sudhakar Ramakrishna sold 200,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the sale, the chief executive officer now directly owns 2,212,171 shares of the company's stock, valued at $30,262,499.28. The trade was a 8.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William G. Bock sold 16,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $13.13, for a total value of $210,080.00. Following the completion of the sale, the director now directly owns 88,857 shares of the company's stock, valued at $1,166,692.41. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 351,000 shares of company stock worth $4,703,780. 1.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in SolarWinds by 24.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker's stock worth $66,000 after purchasing an additional 1,001 shares during the period. Quantinno Capital Management LP increased its stake in SolarWinds by 2.5% in the 3rd quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker's stock worth $629,000 after buying an additional 1,184 shares during the period. GAMMA Investing LLC increased its stake in SolarWinds by 344.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker's stock worth $27,000 after buying an additional 1,603 shares during the period. Franklin Resources Inc. lifted its holdings in SolarWinds by 6.2% during the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker's stock valued at $386,000 after buying an additional 1,760 shares in the last quarter. Finally, West Tower Group LLC boosted its position in SolarWinds by 38.3% in the 3rd quarter. West Tower Group LLC now owns 7,221 shares of the software maker's stock valued at $94,000 after buying an additional 2,000 shares during the period. Institutional investors own 93.96% of the company's stock.

SolarWinds Company Profile

SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. It provides a suite of network management software that offers real-time visibility into network utilization and bandwidth, as well as the ability to detect, diagnose, and resolve network performance problems; and a suite of infrastructure management products, which monitors and analyzes the performance of applications and their supporting infrastructure, including servers, physical, virtual and cloud infrastructure, storage, and databases.