SolarWinds (NYSE:SWI) Updates FY24 Earnings Guidance

SolarWinds (NYSE:SWI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.00-1.04 for the period, compared to the consensus earnings per share estimate of $0.97. The company issued revenue guidance of $771-786 million, compared to the consensus revenue estimate of $779.51 million. SolarWinds also updated its Q2 guidance to $0.21-0.23 EPS.

Wall Street Analysts Forecast Growth

SWI has been the topic of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on SolarWinds in a report on Thursday, February 1st. They issued a neutral rating and a $14.00 target price on the stock. Royal Bank of Canada boosted their price objective on shares of SolarWinds from $13.00 to $15.00 and gave the company a sector perform rating in a research note on Friday, February 9th. Finally, Truist Financial assumed coverage on shares of SolarWinds in a research note on Wednesday, March 6th. They issued a hold rating and a $13.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of Hold and an average price target of $13.50.

SolarWinds Stock Up 1.0 %

SWI opened at $11.70 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. SolarWinds has a 12 month low of $8.50 and a 12 month high of $13.43. The stock has a market capitalization of $1.97 billion, a P/E ratio of 167.14 and a beta of 0.97. The business has a 50 day simple moving average of $11.73 and a 200-day simple moving average of $11.60.

SolarWinds (NYSE:SWI) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The firm had revenue of $198.14 million during the quarter, compared to analysts’ expectations of $190.54 million. SolarWinds had a return on equity of 6.33% and a net margin of 1.58%. On average, equities analysts anticipate that SolarWinds will post 0.62 earnings per share for the current fiscal year.

SolarWinds Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were given a $1.00 dividend. The ex-dividend date was Tuesday, April 2nd.

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.