Scotiabank Increases SolarWinds Price Target to $18.50

SolarWinds (NYSE:SWI) received a significant update from Scotiabank, which raised its price target from $15.00 to $18.50 in a research note released to investors on Monday. This new price target reflects a potential upside of approximately 0.84% based on SolarWinds' previous closing price. Scotiabank also maintained a "sector perform" rating on the company's stock.

Additional Analysts' Opinions

Several other research firms have also commented on SolarWinds recently. Truist Financial reiterated a "hold" rating and increased its target price on the shares to $18.50 from a prior estimate of $13.00. In a separate report, Wedbush downgraded SolarWinds from an "outperform" rating to "neutral" while also lowering their price target from $20.00 to $18.50. Additionally, Royal Bank of Canada raised its target price for SolarWinds from $13.00 to $16.00, maintaining a "sector perform" designation. Robert W. Baird similarly increased their price target from $15.00 to $18.50, giving SolarWinds a "neutral" rating. According to MarketBeat, a total of five investment analysts currently rate SolarWinds with a hold rating, resulting in an average rating of "Hold" and a consensus price target of $18.00.

Recent Stock Performance

On Monday, shares of SolarWinds increased slightly by 0.2%, trading up $0.04 to reach $18.35. The stock's trading volume was about 338,843 shares, which is lower than its average of 758,286. Key financial ratios for SolarWinds include 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 capitalization of $3.13 billion and a price-to-earnings (P/E) ratio of 83.39. Over the past year, SolarWinds’ stock has ranged from a low of $10.14 to a high of $18.55.

Institutional Investor Activity

Changes in institutional investor positions for SolarWinds have been noteworthy. Great Lakes Advisors LLC acquired a new position in SolarWinds during the fourth quarter, worth approximately $5,147,000. Proficio Capital Partners LLC also purchased a new stake valued at $160,000. Atria Investments Inc. boosted its stake by 16.4%, now owning 27,193 shares worth about $388,000 after buying additional shares in the last quarter. Victory Capital Management Inc. increased its holdings by 2.7%, acquiring an additional 2,816 shares, bringing its total to 108,747 shares valued at $1,550,000. Charles Schwab Investment Management Inc. raised its position by 3.7%, now holding 471,196 shares valued at $6,715,000. Currently, 93.96% of SolarWinds’ stock is held by institutional investors and hedge funds.

About SolarWinds

SolarWinds Corporation specializes in information technology (IT) management software products, catering to clients both in the U.S. and internationally. The company offers a wide range of network management software, providing real-time insights into network performance and enabling quick detection and resolution of related issues. Additionally, SolarWinds provides infrastructure management products that monitor and analyze the performance of various IT infrastructures, including servers, cloud services, databases, and storage solutions.

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