Scotiabank Comments on SolarWinds FY2024 Earnings

SolarWinds Co. (NYSE:SWI) – Analysts at Scotiabank issued their FY2024 earnings estimates for SolarWinds in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Colville expects that the software maker will earn $0.75 per share for the year. The consensus estimate for SolarWinds’ current full-year earnings is $0.74 per share. Scotiabank also issued estimates for SolarWinds’ FY2025 earnings at $0.63 EPS.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird boosted their price objective on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Wedbush began coverage on shares of SolarWinds in a research report on Thursday, December 19th. They issued an “outperform” rating and a $20.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $15.00.

SolarWinds Trading Up 2.3 %

Shares of SolarWinds stock opened at $13.84 on Monday. The firm has a market cap of $2.36 billion, a PE ratio of 62.91 and a beta of 0.94. SolarWinds has a 1 year low of $10.14 and a 1 year high of $14.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a fifty day moving average price of $13.92 and a 200-day moving average price of $12.95.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $200.03 million for the quarter, compared to analyst estimates of $194.03 million. SolarWinds had a net margin of 4.93% and a return on equity of 7.96%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share.

Insider Transactions at SolarWinds

In related news, Director William G. Bock sold 16,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $13.13, for a total transaction of $210,080.00. Following the transaction, the director now owns 88,857 shares in the company, valued at $1,166,692.41. The trade was a 15.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Bliss sold 135,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $13.02, for a total value of $1,757,700.00. Following the completion of the sale, the insider now owns 838,789 shares of the company’s stock, valued at approximately $10,921,032.78. This trade represents a 13.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 351,000 shares of company stock worth $4,703,780. Company insiders own 1.95% of the company’s stock.

Institutional Investors Weigh In On SolarWinds

A number of large investors have recently modified their holdings of SWI. GAMMA Investing LLC raised its holdings in SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after purchasing an additional 1,603 shares in the last quarter. Allworth Financial LP grew its position in shares of SolarWinds by 732.1% in the 3rd quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after buying an additional 3,331 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of SolarWinds by 24.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock worth $66,000 after acquiring an additional 1,001 shares in the last quarter. West Tower Group LLC lifted its position in SolarWinds by 38.3% during the 3rd quarter. West Tower Group LLC now owns 7,221 shares of the software maker’s stock valued at $94,000 after acquiring an additional 2,000 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in SolarWinds by 74.5% during the second quarter. Point72 Asset Management L.P. now owns 9,425 shares of the software maker’s stock worth $114,000 after acquiring an additional 4,025 shares in the last quarter. Institutional investors 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.