Truist Financial Reaffirms Hold Rating for SolarWinds (NYSE:SWI)

SolarWinds (NYSE:SWI)‘s stock had its “hold” rating reiterated by analysts at Truist Financial in a research note issued to investors on Monday,Benzinga reports. They currently have a $18.50 target price on the software maker’s stock, up from their prior target price of $13.00. Truist Financial’s price target would indicate a potential upside of 1.51% from the company’s previous close.

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

SolarWinds Trading Down 0.5 %

SWI opened at $18.23 on Monday. The firm’s fifty day simple moving average is $14.65 and its 200 day simple moving average is $13.44. SolarWinds has a 12 month low of $10.14 and a 12 month high of $18.55. The stock has a market capitalization of $3.11 billion, a P/E ratio of 82.84 and a beta of 0.94. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88.

Institutional Trading of SolarWinds

A number of hedge funds have recently made changes to their positions in the company. Fisher Asset Management LLC acquired a new position in shares of SolarWinds during the fourth quarter worth $13,886,000. State Street Corp increased its stake in shares of 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 buying an additional 800,467 shares during the period. Venturi Wealth Management LLC bought a new position in shares of SolarWinds during the fourth quarter worth about $7,446,000. Great Lakes Advisors LLC acquired a new position in shares of SolarWinds in the fourth quarter worth approximately $5,147,000. Finally, Principal Financial Group Inc. acquired a new stake in SolarWinds during the 3rd quarter valued at approximately $3,673,000. 93.96% of the stock is owned by institutional investors and hedge funds.

SolarWinds Company Profile

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.