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Investment analysts at Needham & Company increased their target price on shares of SolarWinds (NYSE:SWI) from $42.00 to $50.00 in a note issued to investors on Thursday, American Banking and Market News reports. The firm currently has a “buy” rating on the stock. Needham & Company’s price target points to a potential upside of 17.40% from the company’s current price.

SolarWinds (NYSE:SWI) opened at 44.20 on Thursday. SolarWinds has a one year low of $31.94 and a one year high of $61.52. The stock’s 50-day moving average is $39.21 and its 200-day moving average is $36.97. The company has a market cap of $3.322 billion and a price-to-earnings ratio of 35.79.

SolarWinds (NYSE:SWI) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.34 by $0.07. The company had revenue of $97.10 million for the quarter, compared to the consensus estimate of $91.50 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, analysts predict that SolarWinds will post $1.55 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group raised their price target on shares of SolarWinds from $45.00 to $51.00 in a research note to investors on Thursday. Separately, analysts at FBR Capital Markets raised their price target on shares of SolarWinds from $41.00 to $46.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of SolarWinds from $45.00 to $48.00 in a research note to investors on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. SolarWinds has an average rating of “Hold” and a consensus target price of $43.18.

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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