SolarWinds (NYSE:SWI) Issues Quarterly Earnings Results

SolarWinds (NYSE:SWIGet Rating) announced its quarterly earnings results on Thursday. The software maker reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02, MarketWatch Earnings reports. The business had revenue of $176.87 million during the quarter, compared to analysts’ expectations of $174.68 million. SolarWinds had a negative net margin of 5.80% and a positive return on equity of 3.59%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. SolarWinds updated its Q2 guidance to $0.20 EPS and its FY22 guidance to $0.88-0.95 EPS.

NYSE SWI traded down $0.41 during trading on Friday, hitting $11.30. The company had a trading volume of 563,781 shares, compared to its average volume of 446,016. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.82. The company’s fifty day moving average is $12.56 and its 200-day moving average is $13.93. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -36.45 and a beta of 0.87. SolarWinds has a one year low of $10.76 and a one year high of $23.00.

Several equities research analysts have weighed in on SWI shares. TheStreet cut shares of SolarWinds from a “c” rating to a “d+” rating in a research report on Friday, February 18th. Truist Financial dropped their price target on shares of SolarWinds from $18.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, February 22nd. Finally, Zacks Investment Research lowered shares of SolarWinds from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.43.

Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its stake in shares of SolarWinds by 95.3% in the 4th quarter. Legal & General Group Plc now owns 1,955,184 shares of the software maker’s stock worth $27,744,000 after acquiring an additional 954,151 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of SolarWinds by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 632,697 shares of the software maker’s stock worth $8,977,000 after acquiring an additional 70,176 shares in the last quarter. State Street Corp increased its stake in shares of SolarWinds by 9.6% in the 4th quarter. State Street Corp now owns 566,480 shares of the software maker’s stock worth $8,038,000 after acquiring an additional 49,822 shares in the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of SolarWinds by 79.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 367,097 shares of the software maker’s stock worth $5,209,000 after acquiring an additional 163,007 shares in the last quarter. Finally, Norges Bank bought a new position in shares of SolarWinds in the 4th quarter worth about $4,658,000. Institutional investors own 96.54% of the company’s stock.

SolarWinds Company Profile (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.

Further Reading

Earnings History for SolarWinds (NYSE:SWI)

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