Scotiabank Forecasts Strong Price Appreciation for SolarWinds (NYSE:SWI) Stock

SolarWinds (NYSE:SWI) had its price target raised by Scotiabank from $13.00 to $15.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the software maker’s stock.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a research report on Tuesday. Robert W. Baird boosted 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. Finally, Wedbush started coverage on SolarWinds in a report on Thursday, December 19th. They set an “outperform” rating and a $20.00 price objective on the stock. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $15.50.

SolarWinds Trading Down 0.0 %

Shares of SolarWinds stock opened at $14.62 on Tuesday. The business has a 50 day moving average price of $14.01 and a 200 day moving average price of $13.06. The company has a market capitalization of $2.49 billion, a P/E ratio of 66.44 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. SolarWinds has a 1 year low of $10.14 and a 1 year high of $14.94.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 earnings per share. Sell-side analysts anticipate that SolarWinds will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jason Bliss sold 135,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $13.02, for a total value of $1,757,700.00. Following the transaction, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. This trade represents a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William G. Bock sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total transaction of $210,080.00. Following the sale, the director now owns 88,857 shares of the company’s stock, valued at approximately $1,166,692.41. This represents 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 have sold 351,000 shares of company stock valued at $4,703,780. 1.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in shares of SolarWinds in the fourth quarter valued at about $38,000. Pacer Advisors Inc. boosted its holdings in SolarWinds by 18.5% in the 4th quarter. Pacer Advisors Inc. now owns 16,470 shares of the software maker’s stock worth $235,000 after acquiring an additional 2,574 shares during the period. Principal Financial Group Inc. acquired a new stake in SolarWinds in the third quarter valued at approximately $3,673,000. Franklin Resources Inc. raised its stake in shares of SolarWinds by 6.2% during the third quarter. Franklin Resources Inc. now owns 29,995 shares of the software maker’s stock valued at $386,000 after purchasing an additional 1,760 shares during the period. Finally, Barclays PLC lifted its position in shares of SolarWinds by 170.1% during the third quarter. Barclays PLC now owns 94,530 shares of the software maker’s stock worth $1,233,000 after purchasing an additional 59,532 shares in the last quarter. 93.96% of the stock is owned by hedge funds and other institutional investors.

About SolarWinds

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.