SolarWinds (NYSE:SWI) Updates Q3 2019 Earnings Guidance

SolarWinds (NYSE:SWI) updated its third quarter 2019 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.19-0.20 for the period, compared to the Thomson Reuters consensus estimate of $0.21. The company issued revenue guidance of $241.5-246 million, compared to the consensus revenue estimate of $243.41 million.SolarWinds also updated its FY 2019 guidance to $0.81-0.82 EPS.

Several research analysts have issued reports on the company. Jefferies Financial Group increased their price objective on SolarWinds from $21.00 to $23.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Citigroup increased their price target on shares of SolarWinds from $20.00 to $23.00 and gave the company a buy rating in a report on Monday, May 6th. Zacks Investment Research cut shares of SolarWinds from a buy rating to a hold rating in a research note on Thursday, April 11th. Goldman Sachs Group cut shares of SolarWinds from a neutral rating to a sell rating and reduced their price objective for the company from $20.00 to $17.50 in a research note on Sunday, June 30th. Finally, ValuEngine downgraded shares of SolarWinds from a hold rating to a sell rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $19.43.

NYSE SWI traded down $0.20 during trading hours on Friday, reaching $17.70. The company’s stock had a trading volume of 1,454,409 shares, compared to its average volume of 491,979. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.51 and a current ratio of 1.51. The business’s 50-day moving average price is $18.39. SolarWinds has a fifty-two week low of $12.25 and a fifty-two week high of $21.22. The company has a market cap of $5.56 billion and a PE ratio of 31.05.

SolarWinds (NYSE:SWI) last released its quarterly earnings results on Thursday, August 1st. The software maker reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $230.60 million for the quarter, compared to analyst estimates of $226.51 million. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. As a group, equities research analysts forecast that SolarWinds will post 0.81 earnings per share for the current year.

In other SolarWinds news, CEO Kevin B. Thompson sold 19,158 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $18.97, for a total transaction of $363,427.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP W. Joseph Kim sold 4,530 shares of SolarWinds stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $19.58, for a total transaction of $88,697.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,690,902 shares of company stock worth $46,953,909. 1.60% of the stock is owned by insiders.

SolarWinds Company Profile

SolarWinds Corporation provides information technology (IT) infrastructure management software products in the United States and internationally. It offers products to monitor and manage network, system, desktop, application, storage, and database and Website infrastructures, whether on-premise, in the public or private cloud, or in a hybrid IT infrastructure.

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Earnings History and Estimates for SolarWinds (NYSE:SWI)

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