SolarWinds (NYSE:SWI) PT Lowered to $10.00 at Truist Financial

SolarWinds (NYSE:SWIGet Rating) had its target price reduced by Truist Financial from $15.00 to $10.00 in a report published on Wednesday morning, The Fly reports.

Separately, Morgan Stanley dropped their target price on SolarWinds from $14.00 to $13.00 and set an equal weight rating for the company in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $12.75.

SolarWinds Stock Performance

Shares of SWI opened at $9.64 on Wednesday. The company has a market cap of $1.55 billion, a PE ratio of -2.35 and a beta of 0.88. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.82. The stock has a 50-day moving average price of $10.97 and a 200-day moving average price of $12.04. SolarWinds has a 12-month low of $9.28 and a 12-month high of $20.55.

SolarWinds (NYSE:SWIGet Rating) last released its earnings results on Tuesday, August 2nd. The software maker reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $176.03 million during the quarter, compared to the consensus estimate of $175.53 million. SolarWinds had a positive return on equity of 0.99% and a negative net margin of 91.47%. SolarWinds’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities analysts forecast that SolarWinds will post 0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SolarWinds

Several hedge funds have recently made changes to their positions in SWI. McCarthy Asset Management Inc. purchased a new position in shares of SolarWinds during the first quarter valued at approximately $27,000. Point72 Hong Kong Ltd purchased a new stake in SolarWinds in the fourth quarter worth $50,000. Allspring Global Investments Holdings LLC purchased a new stake in SolarWinds in the fourth quarter worth $57,000. Covestor Ltd purchased a new stake in SolarWinds in the fourth quarter worth $59,000. Finally, US Bancorp DE grew its stake in SolarWinds by 3,591.5% in the first quarter. US Bancorp DE now owns 4,762 shares of the software maker’s stock worth $64,000 after purchasing an additional 4,633 shares during the period. 96.54% of the stock is owned by hedge funds and other institutional investors.

About SolarWinds

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SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. The company offers a portfolio of solutions to technology professionals for monitoring, managing, and optimizing networks, systems, desktops, applications, storage, databases, website infrastructures, and IT service desks.

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Analyst Recommendations for SolarWinds (NYSE:SWI)

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