Brokerages Set SolarWinds Corp (SWI) Target Price at $19.57

SolarWinds Corp (NYSE:SWI) has earned a consensus rating of “Buy” from the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $19.57.

A number of analysts have issued reports on the company. Citigroup raised their target price on SolarWinds from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research downgraded SolarWinds from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Barclays reissued a “hold” rating and issued a $18.00 target price on shares of SolarWinds in a research report on Sunday, February 10th. Jefferies Financial Group reissued a “buy” rating and issued a $21.00 target price on shares of SolarWinds in a research report on Friday, February 8th. Finally, Goldman Sachs Group downgraded SolarWinds from a “buy” rating to a “neutral” rating and set a $20.00 target price for the company. in a research report on Monday, March 18th.

Shares of SolarWinds stock opened at $19.17 on Tuesday. The firm has a market cap of $6.04 billion and a P/E ratio of 33.63. SolarWinds has a 12 month low of $12.25 and a 12 month high of $21.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.36 and a current ratio of 1.36.

SolarWinds (NYSE:SWI) last issued its quarterly earnings results on Wednesday, April 24th. The software maker reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The business had revenue of $216.00 million for the quarter, compared to the consensus estimate of $216.54 million. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that SolarWinds will post 0.81 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. HarbourVest Partners LLC purchased a new position in shares of SolarWinds in the fourth quarter valued at $115,155,000. Fairview Capital Investment Management LLC purchased a new position in shares of SolarWinds in the fourth quarter valued at $59,704,000. ETF Managers Group LLC purchased a new position in shares of SolarWinds in the first quarter valued at $57,604,000. Norges Bank purchased a new position in shares of SolarWinds in the fourth quarter valued at $25,733,000. Finally, FMR LLC purchased a new position in shares of SolarWinds in the fourth quarter valued at $25,193,000. 95.05% of the stock is owned by institutional investors and hedge funds.

About SolarWinds

SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products to monitor and manage network, system, desktop, application, storage, and database and Website infrastructures, whether on-premise, in the public or private cloud, or in a hybrid IT infrastructure.

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Analyst Recommendations for SolarWinds (NYSE:SWI)

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