Citigroup Increases SolarWinds (SWI) Price Target to $23.00

SolarWinds (NYSE:SWI) had its target price raised by Citigroup from $20.00 to $23.00 in a report issued on Monday, May 6th, The Fly reports. The firm currently has a “buy” rating on the software maker’s stock. Citigroup‘s target price points to a potential upside of 29.36% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Jefferies Financial Group raised their target price on SolarWinds from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Zacks Investment Research lowered SolarWinds from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Goldman Sachs Group lowered SolarWinds from a “buy” rating to a “neutral” rating and set a $20.00 price target for the company. in a research note on Monday, March 18th. Barclays reiterated a “hold” rating and issued a $18.00 price target on shares of SolarWinds in a research note on Sunday, February 10th. Finally, ValuEngine upgraded SolarWinds from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.60.

SWI traded down $0.14 during trading on Monday, hitting $17.78. 1,149,038 shares of the company’s stock traded hands, compared to its average volume of 547,512. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.73. SolarWinds has a 12-month low of $12.25 and a 12-month high of $21.22. The company has a market cap of $5.58 billion and a price-to-earnings ratio of 31.19.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Wednesday, April 24th. The software maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $216.00 million for the quarter, compared to the consensus estimate of $216.54 million. SolarWinds’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, research analysts forecast that SolarWinds will post 0.81 EPS for the current year.

In related news, major shareholder Berman Insurance Fun Neuberger sold 302,419 shares of SolarWinds stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $17.42, for a total value of $5,268,138.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lexington Co-Investment Holdin sold 151,210 shares of SolarWinds stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $17.42, for a total value of $2,634,078.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 560,667 shares of company stock valued at $9,845,216. 1.60% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can bought a new stake in SolarWinds in the first quarter worth about $35,000. State of Alaska Department of Revenue bought a new stake in SolarWinds in the fourth quarter worth about $41,000. Meeder Asset Management Inc. bought a new stake in SolarWinds in the first quarter worth about $65,000. NumerixS Investment Technologies Inc bought a new stake in SolarWinds in the fourth quarter worth about $96,000. Finally, Public Employees Retirement System of Ohio bought a new stake in SolarWinds in the fourth quarter worth about $101,000. 93.71% of the stock is owned by institutional investors and hedge funds.

About SolarWinds

SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products to monitor and manage network, system, desktop, application, storage, and database and Website infrastructures, whether on-premise, in the public or private cloud, or in a hybrid IT infrastructure.

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Analyst Recommendations for SolarWinds (NYSE:SWI)

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