Truist Financial Reiterates “Hold” Rating for SolarWinds (NYSE:SWI)

SolarWinds (NYSE:SWI)‘s stock had its “hold” rating reissued by analysts at Truist Financial in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $18.50 price objective on the software maker’s stock, up from their prior price objective of $13.00. Truist Financial’s price objective suggests a potential upside of 0.84% from the stock’s current price.

SWI has been the topic of a number of other research reports. Wedbush cut SolarWinds from an “outperform” rating to a “neutral” rating and cut their target price for the company from $20.00 to $18.50 in a research note on Friday. Royal Bank of Canada lifted their price objective on shares of SolarWinds from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Robert W. Baird upped their target price on SolarWinds from $15.00 to $18.50 and gave the company a “neutral” rating in a research report on Monday. Finally, Scotiabank lifted their target price on SolarWinds from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.30.

SolarWinds Stock Performance

Shares of SWI opened at $18.35 on Monday. The business has a 50-day simple moving average of $14.47 and a two-hundred day simple moving average of $13.35. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.88. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 83.44 and a beta of 0.94. SolarWinds has a 52 week low of $10.14 and a 52 week high of $18.55.

Institutional Trading of SolarWinds

Several hedge funds have recently added to or reduced their stakes in SWI. Marshall Wace LLP purchased a new stake in SolarWinds during the second quarter worth $129,000. The Manufacturers Life Insurance Company lifted its stake in shares of SolarWinds by 9.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,225 shares of the software maker’s stock worth $412,000 after purchasing an additional 2,936 shares during the period. Sanctuary Advisors LLC acquired a new stake in SolarWinds in the 2nd quarter worth about $230,000. SG Americas Securities LLC purchased a new stake in SolarWinds in the third quarter valued at approximately $385,000. Finally, GAMMA Investing LLC increased its holdings in shares of SolarWinds by 344.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock worth $27,000 after buying an additional 1,603 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

SolarWinds Company Profile

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.