SolarWinds (NYSE:SWI) Issues FY 2024 Earnings Guidance

SolarWinds (NYSE:SWI) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 1.000-1.040 for the period, compared to the consensus EPS estimate of 0.980. The company issued revenue guidance of $771.0 million-$786.0 million, compared to the consensus revenue estimate of $782.8 million. SolarWinds also updated its Q2 2024 guidance to 0.210-0.230 EPS.

SolarWinds Stock Performance

Shares of SolarWinds stock traded up $0.10 during trading hours on Monday, hitting $11.80. 438,910 shares of the company’s stock traded hands, compared to its average volume of 446,747. The company has a fifty day simple moving average of $11.73 and a 200-day simple moving average of $11.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 168.57 and a beta of 0.97. SolarWinds has a 12-month low of $8.50 and a 12-month high of $13.43.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. SolarWinds had a net margin of 1.58% and a return on equity of 6.33%. The business had revenue of $198.14 million for the quarter, compared to analyst estimates of $190.54 million. Equities research analysts anticipate that SolarWinds will post 0.62 EPS for the current fiscal year.

SolarWinds Announces Dividend

The company also recently announced a dividend, which was paid on Monday, April 15th. Shareholders of record on Wednesday, April 3rd were given a $1.00 dividend. The ex-dividend date was Tuesday, April 2nd.

Analysts Set New Price Targets

Several research firms have recently weighed in on SWI. JPMorgan Chase & Co. assumed coverage on shares of SolarWinds in a research note on Thursday, February 1st. They issued a neutral rating and a $14.00 target price for the company. Robert W. Baird boosted their price objective on SolarWinds from $14.00 to $15.00 and gave the company a neutral rating in a research note on Monday. Royal Bank of Canada lifted their target price on SolarWinds from $13.00 to $15.00 and gave the company a sector perform rating in a report on Friday, February 9th. Finally, Truist Financial began coverage on shares of SolarWinds in a report on Wednesday, March 6th. They issued a hold rating and a $13.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of Hold and an average price target of $13.80.

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.