Truist Financial Reiterates "Hold" Rating for SolarWinds (NYSE:SWI)

Analysts at Truist Financial have confirmed their "hold" rating for SolarWinds (NYSE: SWI) in a recent research note shared with clients and investors on Monday. The firm has set a new price target of $18.50 for the software company, an increase from the previous target of $13.00. This price target implies a modest potential upside of 0.84% from the stock's current trading price.

Recent Analyst Reports

The stock of SolarWinds has recently been analyzed by various other financial institutions as well. For instance, on Friday, Wedbush downgraded SolarWinds from an "outperform" rating to a "neutral" rating, adjusting their target price down to $18.50 from $20.00. Meanwhile, Royal Bank of Canada upgraded their price target for SolarWinds from $13.00 to $16.00, maintaining a "sector perform" rating.

Additionally, Robert W. Baird raised their target price from $15.00 to $18.50 while maintaining a "neutral" rating on Monday. Similarly, Scotiabank increased their price target from $13.00 to $15.00, also assigning a "sector perform" rating. Currently, five investment analysts have issued a hold rating for the stock, leading to a consensus rating of "Hold" with an average price target of $17.30 according to MarketBeat.

SolarWinds Stock Performance Overview

On Monday, shares of SolarWinds opened at $18.35. The company has a 50-day simple moving average of $14.47 and a 200-day simple moving average of $13.35. Financial metrics include a quick ratio and current ratio both at 0.71, along with a debt-to-equity ratio of 0.88. With a market capitalization of $3.13 billion, SolarWinds has a price-to-earnings ratio of 83.44 and a beta of 0.94. The stock has experienced a 52-week low of $10.14 and a high of $18.55, indicating volatility in its price level.

Recent Institutional Trading Activity

A number of hedge funds have recently adjusted their stakes in SolarWinds. For instance, Marshall Wace LLP acquired a new stake, valued at $129,000, in the second quarter. The Manufacturers Life Insurance Company increased its holding by 9.4% during the same period, with a total of 34,225 shares worth approximately $412,000 after purchasing additional shares. Sanctuary Advisors LLC also made a new investment in SolarWinds valued around $230,000.

SG Americas Securities LLC entered the scene, acquiring a stake worth about $385,000 in the third quarter, while GAMMA Investing LLC significantly increased its holdings by 344.7%, now owning 2,068 shares valued at $27,000 after purchasing more shares last quarter. Institutional investors and hedge funds collectively own a significant 93.96% of the company’s stock.

About SolarWinds

SolarWinds Corporation specializes in providing management software solutions for information technology (IT). Their offerings include a range of network management tools that deliver real-time insights into network utilization and performance. Additionally, they provide infrastructure management solutions that monitor and analyze the performance of various applications and their supporting infrastructure, covering servers and both physical and virtual environments, as well as cloud resources and storage systems.

Financial, Stocks, Analysis