SolarWinds (NYSE:SWI) Given New $18.50 Price Target at Scotiabank

SolarWinds (NYSE:SWI) had its price objective raised by Scotiabank from $15.00 to $18.50 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector perform” rating on the software maker’s stock. Scotiabank’s price target would suggest a potential upside of 0.84% from the company’s previous close.

Several other research firms have also issued reports on SWI. Truist Financial reissued a “hold” rating and set a $18.50 target price (up from $13.00) on shares of SolarWinds in a research note on Monday. Wedbush downgraded shares of SolarWinds from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $20.00 to $18.50 in a research report on Friday. Royal Bank of Canada increased their target price on SolarWinds from $13.00 to $16.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Finally, Robert W. Baird lifted their price target on SolarWinds from $15.00 to $18.50 and gave the stock a “neutral” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, SolarWinds presently has an average rating of “Hold” and a consensus price target of $18.00.

SolarWinds Stock Up 0.2 %

Shares of SolarWinds stock traded up $0.04 during trading on Monday, reaching $18.35. The company’s stock had a trading volume of 338,843 shares, compared to its average volume of 758,286. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 83.39 and a beta of 0.94. The company has a 50-day simple moving average of $14.47 and a two-hundred day simple moving average of $13.35. SolarWinds has a 1-year low of $10.14 and a 1-year high of $18.55.

Institutional Investors Weigh In On SolarWinds

Institutional investors have recently made changes to their positions in the stock. Great Lakes Advisors LLC acquired a new position in SolarWinds during the 4th quarter worth approximately $5,147,000. Proficio Capital Partners LLC purchased a new position in SolarWinds in the fourth quarter valued at $160,000. Atria Investments Inc raised its stake in SolarWinds by 16.4% in the fourth quarter. Atria Investments Inc now owns 27,193 shares of the software maker’s stock valued at $388,000 after buying an additional 3,837 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in SolarWinds by 2.7% during the 4th quarter. Victory Capital Management Inc. now owns 108,747 shares of the software maker’s stock worth $1,550,000 after buying an additional 2,816 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of SolarWinds by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,196 shares of the software maker’s stock worth $6,715,000 after acquiring an additional 16,742 shares in the last quarter. 93.96% of the stock is currently owned by institutional investors and hedge funds.

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.