SolarWinds Price Target Cut to $33.00 (SWI)
Equities research analysts at Cowen and Company decreased their price target on shares of SolarWinds (NYSE:SWI) from $34.00 to $33.00 in a research note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a “market perform” rating on the stock. Cowen and Company’s price target would suggest a potential downside of 2.48% from the company’s current price.
Shares of SolarWinds (NYSE:SWI) traded down 1.80% on Tuesday, hitting $33.84. 1,978,220 shares of the company’s stock traded hands. SolarWinds has a one year low of $34.41 and a one year high of $61.52. The stock’s 50-day moving average is $37.3 and its 200-day moving average is $42.76. The company has a market cap of $2.552 billion and a price-to-earnings ratio of 28.98.
SolarWinds (NYSE:SWI) last released its earnings data on Thursday, July 25th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $77.50 million for the quarter, compared to the consensus estimate of $78.94 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts predict that SolarWinds will post $1.53 earnings per share for the current fiscal year.
A number of other firms have also recently commented on SWI. Analysts at Goldman Sachs Group Inc. downgraded shares of SolarWinds from a “neutral” rating to a “sell” rating in a research note to investors on Friday, September 20th. They now have a $35.00 price target on the stock, down previously from $46.00. Separately, analysts at Zacks upgraded shares of SolarWinds from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, July 30th. They now have a $36.60 price target on the stock. Finally, analysts at Robert W. Baird cut their price target on shares of SolarWinds from $54.00 to $46.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $43.57.
SolarWinds, Inc (NYSE:SWI) designs, develops, markets, sells and supports enterprise information technology (IT), infrastructure management software to IT professionals in organizations of all sizes.
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