SolarWinds (NYSE:SWI) Releases Q3 Earnings Guidance

SolarWinds (NYSE:SWI) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.19-$0.20 for the period, compared to the Thomson Reuters consensus estimate of $0.21. The company issued revenue guidance of $241.5-$246 million, compared to the consensus revenue estimate of $243.51 million.SolarWinds also updated its FY 2019 guidance to $0.81-0.82 EPS.

Several research firms recently issued reports on SWI. Zacks Investment Research lowered shares of SolarWinds from a buy rating to a hold rating in a report on Thursday, April 11th. ValuEngine downgraded SolarWinds from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Jefferies Financial Group upped their price target on SolarWinds from $21.00 to $23.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Goldman Sachs Group downgraded SolarWinds from a neutral rating to a sell rating and dropped their price target for the stock from $20.00 to $17.50 in a research note on Sunday, June 30th. Finally, Citigroup upped their price target on SolarWinds from $20.00 to $23.00 and gave the stock a buy rating in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. SolarWinds presently has a consensus rating of Hold and a consensus target price of $19.43.

Shares of NYSE SWI traded down $0.02 during midday trading on Thursday, reaching $17.90. 1,232,500 shares of the stock traded hands, compared to its average volume of 621,562. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $5.51 billion and a PE ratio of 31.40. SolarWinds has a one year low of $12.25 and a one year high of $21.22. The stock has a 50 day moving average of $18.40.

In other news, VP W. Joseph Kim sold 4,530 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $19.58, for a total transaction of $88,697.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aurora Co-Invest L.P. Slp sold 2,130,235 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $17.42, for a total value of $37,108,693.70. The disclosure for this sale can be found here. Insiders have sold a total of 2,690,902 shares of company stock valued at $46,953,909 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

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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Earnings History and Estimates for SolarWinds (NYSE:SWI)

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