FY2024 Earnings Forecast for SolarWinds Issued By Scotiabank

SolarWinds Co. (NYSE:SWI) – Scotiabank issued their FY2024 EPS estimates for shares of SolarWinds in a note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the software maker will post earnings of $0.75 per share for the year. The consensus estimate for SolarWinds’ current full-year earnings is $0.74 per share. Scotiabank also issued estimates for SolarWinds’ FY2025 earnings at $0.63 EPS.

SolarWinds (NYSE:SWI) last issued its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share.

A number of other research analysts also recently issued reports on the company. Robert W. Baird upped their price target on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Wedbush began coverage on SolarWinds in a research report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 target price for the company. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.00.

SolarWinds Stock Performance

SWI stock opened at $13.84 on Monday. The stock has a market capitalization of $2.36 billion, a PE ratio of 62.91 and a beta of 0.94. The stock’s 50 day simple moving average is $13.92 and its 200 day simple moving average is $12.95. SolarWinds has a 12-month low of $10.14 and a 12-month high of $14.94. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SWI. Allspring Global Investments Holdings LLC raised its holdings in SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after acquiring an additional 1,001 shares during the period. Quantinno Capital Management LP grew its position in shares of SolarWinds by 2.5% during the third quarter. Quantinno Capital Management LP now owns 48,198 shares of the software maker’s stock worth $629,000 after purchasing an additional 1,184 shares in the last quarter. GAMMA Investing LLC raised its stake in SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after purchasing an additional 1,603 shares during the period. Franklin Resources Inc. lifted its holdings in SolarWinds by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock worth $386,000 after purchasing an additional 1,760 shares in the last quarter. Finally, West Tower Group LLC boosted its stake in SolarWinds by 38.3% in the 3rd quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock worth $94,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 93.96% of the company’s stock.

Insider Activity

In related news, Director William G. Bock sold 16,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total value of $210,080.00. Following the transaction, the director now directly owns 88,857 shares of the company’s stock, valued at approximately $1,166,692.41. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $13.68, for a total value 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. This represents a 8.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 351,000 shares of company stock valued at $4,703,780 in the last ninety days. 1.95% of the stock is currently owned by company insiders.

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.