SolarWinds (NYSE:SWI) Updates FY 2024 Earnings Guidance

SolarWinds (NYSE:SWI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 1.080-1.090 for the period, compared to the consensus earnings per share estimate of 1.060. The company issued revenue guidance of $788.0 million-$791.0 million, compared to the consensus revenue estimate of $783.7 million. SolarWinds also updated its Q4 guidance to $0.27-0.28 EPS.

SolarWinds Trading Up 0.6 %

NYSE SWI traded up $0.08 during mid-day trading on Friday, reaching $13.16. 2,056,940 shares of the stock were exchanged, compared to its average volume of 402,631. SolarWinds has a 1-year low of $9.41 and a 1-year high of $13.45. The business’s fifty day simple moving average is $12.72 and its 200 day simple moving average is $12.13. The stock has a market capitalization of $2.23 billion, a PE ratio of 59.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.62 and a current ratio of 0.62.

SolarWinds (NYSE:SWI) last announced its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. SolarWinds had a net margin of 4.93% and a return on equity of 7.99%. The firm had revenue of $200.03 million for the quarter, compared to analyst estimates of $194.03 million. During the same quarter last year, the business earned $0.11 earnings per share. SolarWinds’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that SolarWinds will post 0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Robert W. Baird lifted their price target on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday. Scotiabank assumed coverage on shares of SolarWinds in a report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.00.

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.