SolarWinds (NYSE:SWI) Updates FY 2024 Earnings Guidance

SolarWinds (NYSE:SWI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.080-1.090 for the period, compared to the consensus earnings per share estimate of 1.060. The company issued revenue guidance of $788.0 million-$791.0 million, compared to the consensus revenue estimate of $783.7 million. SolarWinds also updated its Q4 guidance to $0.27-0.28 EPS.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird increased their target price on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday. Scotiabank assumed coverage on SolarWinds in a report on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

SolarWinds Trading Up 0.6 %

NYSE:SWI traded up $0.08 during mid-day trading on Friday, reaching $13.16. 2,056,940 shares of the company’s stock traded hands, compared to its average volume of 402,631. The company has a 50 day moving average price of $12.72 and a 200-day moving average price of $12.13. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 59.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.62 and a quick ratio of 0.62. SolarWinds has a 12-month low of $9.41 and a 12-month high of $13.45.

SolarWinds (NYSE:SWI) last posted its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $200.03 million for the quarter, compared to analysts’ expectations of $194.03 million. SolarWinds had a return on equity of 7.99% and a net margin of 4.93%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 earnings per share. On average, sell-side analysts predict that SolarWinds will post 0.71 earnings per share for the current year.

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.