SolarWinds (NYSE:SWI) Sets New 12-Month High After Strong Earnings

SolarWinds Co. (NYSE:SWI - Get Free Report) shares reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $19.00 and last traded at $18.33, with a volume of 148 shares. The stock had previously closed at $18.31.

The software maker reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.14. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SWI shares. Royal Bank of Canada raised their price target on shares of SolarWinds from $13.00 to $16.00 and gave the company a "sector perform" rating in a research note on Tuesday, January 21st. Wedbush lowered shares of SolarWinds from an "outperform" rating to a "neutral" rating and cut their target price for the company from $20.00 to $18.50 in a research report on Friday, February 7th. Scotiabank upped their price target on shares of SolarWinds from $15.00 to $18.50 and gave the stock a "sector perform" rating in a report on Monday, February 10th. Truist Financial reissued a "hold" rating and set a $18.50 price objective (up previously from $13.00) on shares of SolarWinds in a report on Monday, February 10th. Finally, Robert W. Baird upped their target price on SolarWinds from $15.00 to $18.50 and gave the stock a "neutral" rating in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, SolarWinds presently has a consensus rating of "Hold" and an average price target of $18.00.

Institutional Trading of SolarWinds

A number of institutional investors and hedge funds have recently bought and sold shares of SWI. Sterling Capital Management LLC increased its stake in shares of SolarWinds by 808.3% in the fourth quarter. Sterling Capital Management LLC now owns 1,744 shares of the software maker's stock valued at $25,000 after buying an additional 1,552 shares during the period. R Squared Ltd bought a new stake in SolarWinds in the fourth quarter valued at approximately $38,000. Allworth Financial LP increased its position in SolarWinds by 732.1% during the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker's stock valued at $49,000 after purchasing an additional 3,331 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of SolarWinds by 24.6% in the 3rd 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. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of SolarWinds by 75.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,299 shares of the software maker's stock valued at $76,000 after purchasing an additional 2,279 shares during the last quarter. 93.96% of the stock is currently owned by institutional investors and hedge funds.

SolarWinds Stock Performance

The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 83.25 and a beta of 0.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The company's 50-day moving average price is $14.88 and its two-hundred day moving average price is $13.57.

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.