SolarWinds (SWI) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS
SolarWinds (NYSE:SWI) issued its quarterly earnings data on Tuesday. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.36 by $0.05, Stock Ratings Network.com reports. The company had revenue of $87.90 million for the quarter, compared to the consensus estimate of $85.80 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. SolarWinds updated its Q4 guidance to $0.33-0.34 EPS.
SWI has been the subject of a number of recent research reports. Analysts at Cowen and Company cut their price target on shares of SolarWinds from $34.00 to $33.00 in a research note to investors on Tuesday, October 8th. They now have a “market perform” rating on the stock. 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. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. SolarWinds has a consensus rating of “Hold” and an average price target of $43.57.
SolarWinds (NYSE:SWI) traded down 1.22% during mid-day trading on Tuesday, hitting $36.32. 2,183,030 shares of the company’s stock traded hands. SolarWinds has a 52-week low of $35.31 and a 52-week high of $61.52. The stock has a 50-day moving average of $37.69 and a 200-day moving average of $45.50. The company has a market cap of $2.739 billion and a price-to-earnings ratio of 30.93.
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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