Robert W. Baird Boosts SolarWinds (NYSE:SWI) Price Target to $15.00

SolarWinds (NYSE:SWI) had its target price raised by Robert W. Baird from $14.00 to $15.00 in a report published on Monday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the software maker’s stock.

Several other research analysts have also recently weighed in 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 report on Friday, February 9th. JPMorgan Chase & Co. initiated coverage on SolarWinds in a research report on Thursday, February 1st. They issued a neutral rating and a $14.00 target price on the stock. Finally, Truist Financial assumed coverage on shares of SolarWinds in a research report on Wednesday, March 6th. They set a hold rating and a $13.00 price target for the company. Five analysts have rated the stock with a hold rating, According to MarketBeat, SolarWinds currently has an average rating of Hold and an average target price of $13.80.

SolarWinds Stock Performance

Shares of SWI stock opened at $11.66 on Monday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 166.57 and a beta of 0.97. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. SolarWinds has a one year low of $8.50 and a one year high of $13.43. The company’s 50-day moving average is $11.72 and its 200 day moving average is $11.67.

SolarWinds (NYSE:SWI) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. SolarWinds had a net margin of 1.58% and a return on equity of 6.33%. The firm had revenue of $198.14 million for the quarter, compared to analysts’ expectations of $190.54 million. Sell-side analysts expect that SolarWinds will post 0.62 EPS for the current fiscal year.

SolarWinds Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Trexquant Investment LP raised its stake in SolarWinds by 3.6% during the 4th quarter. Trexquant Investment LP now owns 31,898 shares of the software maker’s stock worth $398,000 after acquiring an additional 1,106 shares during the period. ProShare Advisors LLC raised its stake in SolarWinds by 14.4% during the 1st quarter. ProShare Advisors LLC now owns 12,420 shares of the software maker’s stock valued at $157,000 after purchasing an additional 1,565 shares during the period. Barclays PLC raised its position in shares of SolarWinds by 9.7% during the third quarter. Barclays PLC now owns 20,820 shares of the software maker’s stock valued at $197,000 after buying an additional 1,842 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in SolarWinds by 28.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,633 shares of the software maker’s stock valued at $134,000 after acquiring an additional 2,343 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of SolarWinds by 1.3% in the first quarter. Los Angeles Capital Management LLC now owns 208,102 shares of the software maker’s stock worth $2,626,000 after buying an additional 2,692 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors.

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.