Zacks Investment Research Downgrades SolarWinds (NYSE:SWI) to Hold

SolarWinds (NYSE:SWIGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “SolarWinds Corporation designs and develops information technology management software. The Company offers solutions consisting of network performance monitoring, configuration, virtualization, database management, hosted logs, security and configuration. SolarWinds Corporation is based in TX, United States. “

A number of other brokerages also recently weighed in on SWI. Truist Financial lowered their price target on SolarWinds from $18.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, February 22nd. TheStreet downgraded SolarWinds from a “c” rating to a “d+” rating in a report on Friday, February 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.43.

Shares of SWI opened at $12.88 on Thursday. The business’s 50 day moving average is $12.84 and its two-hundred day moving average is $14.48. SolarWinds has a 52-week low of $10.76 and a 52-week high of $23.00. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -40.25 and a beta of 0.88. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.82.

SolarWinds (NYSE:SWIGet Rating) last announced its earnings results on Thursday, February 17th. The software maker reported ($0.14) earnings per share (EPS) for the quarter. SolarWinds had a negative net margin of 5.80% and a positive return on equity of 3.59%. The business had revenue of $186.70 million during the quarter, compared to analyst estimates of $181.84 million. During the same period in the previous year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts expect that SolarWinds will post 0.75 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in SWI. US Bancorp DE lifted its holdings in shares of SolarWinds by 1,077.3% in the third quarter. US Bancorp DE now owns 1,554 shares of the software maker’s stock valued at $26,000 after buying an additional 1,422 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of SolarWinds in the third quarter valued at $38,000. Moors & Cabot Inc. acquired a new stake in shares of SolarWinds in the third quarter valued at $39,000. Point72 Hong Kong Ltd acquired a new stake in shares of SolarWinds in the fourth quarter valued at $50,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of SolarWinds during the fourth quarter valued at $57,000. Institutional investors own 97.17% of the company’s stock.

About SolarWinds (Get Rating)

SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. The company offers a portfolio of solutions to technology professionals for monitoring, managing, and optimizing networks, systems, desktops, applications, storage, databases, website infrastructures, and IT service desks.

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