Scotiabank Begins Coverage on SolarWinds (NYSE:SWI)

Scotiabank started coverage on shares of SolarWinds (NYSE:SWI) in a report issued on Friday, Marketbeat Ratings reports. The firm issued a sector perform rating and a $13.00 target price on the software maker’s stock.

Separately, Robert W. Baird dropped their target price on SolarWinds from $15.00 to $14.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, SolarWinds has an average rating of Hold and an average price target of $13.80.

SolarWinds Price Performance

SWI opened at $12.82 on Friday. SolarWinds has a 52-week low of $8.83 and a 52-week high of $13.43. The company has a 50 day moving average of $12.20 and a two-hundred day moving average of $11.92. The company has a market cap of $2.17 billion, a P/E ratio of 183.14 and a beta of 0.97. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.92.

SolarWinds (NYSE:SWI) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. SolarWinds had a net margin of 2.96% and a return on equity of 7.14%. The firm had revenue of $193.30 million during the quarter, compared to analysts’ expectations of $188.67 million. During the same period in the prior year, the company earned $0.12 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. On average, analysts expect that SolarWinds will post 0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SWI. nVerses Capital LLC acquired a new stake in SolarWinds during the second quarter worth about $41,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of SolarWinds during the second quarter valued at approximately $58,000. Ameritas Investment Partners Inc. acquired a new stake in shares of SolarWinds during the 1st quarter worth approximately $62,000. Innealta Capital LLC bought a new stake in shares of SolarWinds in the 2nd quarter worth approximately $79,000. Finally, CWM LLC boosted its position in SolarWinds by 282.6% during the 2nd quarter. CWM LLC now owns 8,980 shares of the software maker’s stock valued at $108,000 after purchasing an additional 6,633 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Company Profile

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.