Royal Bank of Canada Issues Positive Forecast for SolarWinds (NYSE:SWI) Stock Price

SolarWinds (NYSE:SWI) had its price objective upped by stock analysts at Royal Bank of Canada from $13.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “sector perform” rating on the software maker’s stock. Royal Bank of Canada’s price target suggests a potential upside of 12.40% from the stock’s current price.

Several other research analysts have also weighed in on the company. Wedbush began coverage on SolarWinds in a research report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 target price on the stock. Robert W. Baird increased their price objective on shares of SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.17.

SolarWinds Price Performance

Shares of SolarWinds stock traded up $0.19 on Tuesday, hitting $14.24. The company’s stock had a trading volume of 10,333 shares, compared to its average volume of 389,690. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The firm has a fifty day moving average price of $13.95 and a 200-day moving average price of $13.02. SolarWinds has a 52-week low of $10.14 and a 52-week high of $14.94. The company has a market capitalization of $2.43 billion, a P/E ratio of 64.71 and a beta of 0.94.

SolarWinds (NYSE:SWI) last announced its earnings results on Thursday, October 31st. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. SolarWinds had a return on equity of 7.96% and a net margin of 4.93%. The firm had revenue of $200.03 million for the quarter, compared to analysts’ expectations of $194.03 million. During the same quarter in the prior year, the firm earned $0.11 EPS. SolarWinds’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect that SolarWinds will post 0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at SolarWinds

In other news, insider Jason Bliss sold 135,000 shares of SolarWinds stock in a transaction on Monday, November 4th. The stock was sold at an average price of $13.02, for a total transaction of $1,757,700.00. Following the transaction, the insider now owns 838,789 shares in the company, valued at approximately $10,921,032.78. The trade was a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sudhakar Ramakrishna sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $13.68, for a total transaction of $2,736,000.00. Following the completion of the transaction, the chief executive officer now owns 2,212,171 shares in the company, valued at approximately $30,262,499.28. This represents a 8.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 351,000 shares of company stock valued at $4,703,780. Company insiders own 1.95% of the company’s stock.

Institutional Investors Weigh In On SolarWinds

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in SolarWinds by 344.7% during the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after purchasing an additional 1,603 shares during the last quarter. Allworth Financial LP raised its holdings in SolarWinds by 732.1% in the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after acquiring an additional 3,331 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in SolarWinds by 24.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after acquiring an additional 1,001 shares during the period. West Tower Group LLC grew its position in shares of SolarWinds by 38.3% in the third quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock valued at $94,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of SolarWinds by 74.5% in the second quarter. Point72 Asset Management L.P. now owns 9,425 shares of the software maker’s stock worth $114,000 after purchasing an additional 4,025 shares during the period. Institutional investors own 93.96% of the company’s stock.

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.