SolarWinds (NYSE:SWI) Issues FY 2024 Earnings Guidance

SolarWinds (NYSE:SWI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 1.080-1.090 for the period, compared to the consensus EPS 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 Upgrades and Downgrades

Several brokerages have issued reports on SWI. Scotiabank began coverage on SolarWinds in a research report on Friday, September 13th. They issued a “sector perform” rating and a $13.00 target price on the stock. Robert W. Baird lifted their price objective on SolarWinds from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.00.

SolarWinds Stock Performance

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

SolarWinds (NYSE:SWI) last issued 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 company had revenue of $200.03 million for the quarter, compared to the consensus estimate of $194.03 million. SolarWinds had a return on equity of 7.99% and a net margin of 4.93%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.11 EPS. As a group, sell-side analysts predict that SolarWinds will post 0.71 earnings per share for the current fiscal year.

About SolarWinds

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.