SolarWinds (NYSE:SWI) Updates FY 2024 Earnings Guidance

by · The Cerbat Gem

SolarWinds (NYSE:SWI – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.080-1.090 for the period, compared to the consensus earnings per share estimate of 1.060. The company issued revenue guidance of $788.0 million-$791.0 million, compared to the consensus revenue estimate of $783.7 million. SolarWinds also updated its Q4 guidance to $0.27-0.28 EPS.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird increased their target price on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday. Scotiabank assumed coverage on SolarWinds in a report on Friday, September 13th. They set a “sector perform” rating and a $13.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

Get Our Latest Stock Analysis on SolarWinds

SolarWinds Trading Up 0.6 %

NYSE:SWI traded up $0.08 during mid-day trading on Friday, reaching $13.16. 2,056,940 shares of the company’s stock traded hands, compared to its average volume of 402,631. The company has a 50 day moving average price of $12.72 and a 200-day moving average price of $12.13. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 59.82 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.62 and a quick ratio of 0.62. SolarWinds has a 12-month low of $9.41 and a 12-month high of $13.45.

SolarWinds (NYSE:SWI – Get Free Report) last posted its earnings results on Thursday, October 31st. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $200.03 million for the quarter, compared to analysts’ expectations of $194.03 million. SolarWinds had a return on equity of 7.99% and a net margin of 4.93%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 earnings per share. On average, sell-side analysts predict that SolarWinds will post 0.71 earnings per share for the current year.

SolarWinds Company Profile

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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.

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