Wedbush Downgrades SolarWinds (NYSE:SWI) to Neutral

Wedbush lowered shares of SolarWinds (NYSE:SWI) from an outperform rating to a neutral rating in a research report report published on Friday, Marketbeat reports. Wedbush currently has $18.50 price objective on the software maker’s stock, down from their prior price objective of $20.00.

Other equities analysts also recently issued reports about the stock. Scotiabank raised their price objective on shares of SolarWinds from $13.00 to $15.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Royal Bank of Canada raised their price target 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. Finally, Robert W. Baird increased their target price on SolarWinds from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, SolarWinds currently has an average rating of “Hold” and a consensus price target of $15.50.

SolarWinds Price Performance

Shares of NYSE:SWI opened at $18.34 on Friday. The firm has a market capitalization of $3.13 billion, a PE ratio of 83.37 and a beta of 0.94. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.88. SolarWinds has a 1-year low of $10.14 and a 1-year high of $18.55. The business’s 50 day moving average is $14.47 and its 200-day moving average is $13.32.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in SolarWinds by 344.7% in the third quarter. GAMMA Investing LLC now owns 2,068 shares of the software maker’s stock valued at $27,000 after acquiring an additional 1,603 shares during the last quarter. R Squared Ltd bought a new position in shares of SolarWinds in the 4th quarter worth $38,000. Allworth Financial LP grew its stake in shares of SolarWinds by 732.1% during the third quarter. Allworth Financial LP now owns 3,786 shares of the software maker’s stock worth $49,000 after purchasing an additional 3,331 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in SolarWinds by 24.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,071 shares of the software maker’s stock valued at $66,000 after purchasing an additional 1,001 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in SolarWinds by 75.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,299 shares of the software maker’s stock valued at $76,000 after buying an additional 2,279 shares during the period. 93.96% of the stock is currently owned by institutional investors.

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.