SolarWinds (NYSE:SWI) Updates FY24 Earnings Guidance

SolarWinds (NYSE:SWI) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.00-1.04 for the period, compared to the consensus EPS estimate of $0.97. The company issued revenue guidance of $771-786 million, compared to the consensus revenue estimate of $779.51 million. SolarWinds also updated its Q2 guidance to $0.21-0.23 EPS.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of SolarWinds in a report on Thursday, February 1st. They issued a neutral rating and a $14.00 price target on the stock. Truist Financial assumed 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. Finally, Royal Bank of Canada upped their price target on shares of SolarWinds from $13.00 to $15.00 and gave the company a sector perform rating in a report on Friday, February 9th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $13.50.

SolarWinds Stock Performance

NYSE:SWI opened at $11.08 on Thursday. The firm has a 50 day simple moving average of $11.76 and a 200-day simple moving average of $11.59. 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 firm has a market cap of $1.86 billion, a PE ratio of -221.60 and a beta of 0.97. SolarWinds has a 1-year low of $8.49 and a 1-year high of $13.43.

SolarWinds (NYSE:SWI) last posted its quarterly earnings data on Thursday, February 8th. The software maker reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The business had revenue of $198.14 million during the quarter, compared to analyst estimates of $190.54 million. SolarWinds had a negative net margin of 1.20% and a positive return on equity of 5.08%. On average, equities analysts expect that SolarWinds will post 0.62 EPS for the current year.

SolarWinds Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, April 15th. Investors of record on Wednesday, April 3rd were given a dividend of $1.00 per share. The ex-dividend date was Tuesday, April 2nd.

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.