Scotiabank Issues Positive Forecast for SolarWinds (NYSE:SWI) Stock Price

SolarWinds (NYSE:SWI) had its price target hoisted by analysts at Scotiabank from $15.00 to $18.50 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the software maker’s stock. Scotiabank’s target price indicates a potential upside of 1.51% from the stock’s current price.

SWI has been the topic of several other reports. Wedbush downgraded SolarWinds from an “outperform” rating to a “neutral” rating and cut their target price for the company from $20.00 to $18.50 in a research report on Friday, February 7th. Royal Bank of Canada lifted their target price on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Truist Financial reissued a “hold” rating and set a $18.50 price target (up from $13.00) on shares of SolarWinds in a research report on Monday. Finally, Robert W. Baird increased their price objective on shares of SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, SolarWinds currently has an average rating of “Hold” and a consensus target price of $18.00.

SolarWinds Price Performance

Shares of SWI stock opened at $18.23 on Monday. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 82.84 and a beta of 0.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s 50-day simple moving average is $14.65 and its 200-day simple moving average is $13.44. SolarWinds has a fifty-two week low of $10.14 and a fifty-two week high of $18.55.

Institutional Investors Weigh In On SolarWinds

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in SolarWinds by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 6,865,366 shares of the software maker’s stock valued at $97,831,000 after purchasing an additional 192,198 shares during the period. State Street Corp increased its holdings in SolarWinds by 57.5% in the 3rd quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock worth $28,619,000 after acquiring an additional 800,467 shares in the last quarter. Geode Capital Management LLC lifted its holdings in SolarWinds by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,290,044 shares of the software maker’s stock valued at $16,839,000 after purchasing an additional 16,730 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of SolarWinds in the fourth quarter valued at about $13,886,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of SolarWinds by 4.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 566,204 shares of the software maker’s stock worth $7,389,000 after purchasing an additional 25,416 shares in the last quarter. 93.96% of the stock is owned by hedge funds and other 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.