Robert W. Baird Issues Positive Forecast for SolarWinds (NYSE:SWI) Stock Price

SolarWinds (NYSE:SWI) had its price target upped by research analysts at Robert W. Baird from $15.00 to $18.50 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 1.51% from the company’s previous close.

Several other brokerages have also recently issued reports on SWI. Scotiabank boosted their price target on SolarWinds from $13.00 to $15.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Royal Bank of Canada increased their price objective on SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Finally, Wedbush cut shares of SolarWinds from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $20.00 to $18.50 in a research note on Friday, February 7th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, SolarWinds currently has an average rating of “Hold” and an average price target of $18.00.

SolarWinds Price Performance

Shares of SWI opened at $18.23 on Monday. The firm has a fifty day moving average price of $14.65 and a 200 day moving average price of $13.44. The stock has a market cap of $3.11 billion, a PE ratio of 82.84 and a beta of 0.94. SolarWinds has a 1-year low of $10.14 and a 1-year high of $18.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71.

Hedge Funds Weigh In On SolarWinds

A number of institutional investors have recently modified their holdings of SWI. Vanguard Group Inc. boosted its stake in SolarWinds by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 6,865,366 shares of the software maker’s stock worth $97,831,000 after buying an additional 192,198 shares during the last quarter. State Street Corp grew its holdings in SolarWinds by 57.5% in the third quarter. State Street Corp now owns 2,193,026 shares of the software maker’s stock valued at $28,619,000 after purchasing an additional 800,467 shares during the period. Geode Capital Management LLC raised its stake 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 worth $16,839,000 after purchasing an additional 16,730 shares during the period. Fisher Asset Management LLC acquired a new position in shares of SolarWinds in the 4th quarter valued at $13,886,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of SolarWinds by 4.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 566,204 shares of the software maker’s stock valued at $7,389,000 after buying an additional 25,416 shares during the period. Institutional investors and hedge funds 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.