SolarWinds (NYSE:SWI) Releases FY 2022 Earnings Guidance

SolarWinds (NYSE:SWI – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.88-$0.95 for the period, compared to the consensus estimate of $1.05. The company issued revenue guidance of $730.00 million-$750.00 million, compared to the consensus revenue estimate of $740.92 million.SolarWinds also updated its Q2 2022 guidance to $0.20-$0.20 EPS.

Shares of NYSE:SWI traded up $0.27 during trading on Wednesday, reaching $11.54. 614,729 shares of the stock were exchanged, compared to its average volume of 696,765. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.13 and a quick ratio of 2.13. SolarWinds has a 1-year low of $10.40 and a 1-year high of $23.00. The stock has a fifty day moving average of $12.34 and a two-hundred day moving average of $13.39. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -36.35 and a beta of 0.87.

SolarWinds (NYSE:SWI – Get Rating) last issued its earnings results on Thursday, May 5th. The software maker reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $176.87 million for the quarter, compared to analyst estimates of $174.68 million. SolarWinds had a positive return on equity of 2.45% and a negative net margin of 6.06%. SolarWinds’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts forecast that SolarWinds will post 0.75 EPS for the current year.

A number of research firms recently commented on SWI. TheStreet lowered SolarWinds from a c rating to a d+ rating in a research report on Friday, February 18th. Zacks Investment Research lowered SolarWinds from a buy rating to a hold rating in a research report on Thursday, April 21st. Finally, Truist Financial lowered their price target on SolarWinds from $18.00 to $15.00 and set a hold rating for the company in a research report on Tuesday, February 22nd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $18.50.

Large investors have recently made changes to their positions in the business. Morgan Stanley grew its stake in shares of SolarWinds by 215.2% during the 2nd quarter. Morgan Stanley now owns 185,922 shares of the software maker’s stock worth $3,140,000 after acquiring an additional 126,938 shares during the period. Royal Bank of Canada bought a new position in shares of SolarWinds during the 3rd quarter worth $861,000. Bank of America Corp DE grew its stake in shares of SolarWinds by 35.0% during the 4th quarter. Bank of America Corp DE now owns 89,783 shares of the software maker’s stock worth $1,274,000 after acquiring an additional 23,300 shares during the period. JPMorgan Chase & Co. grew its stake in shares of SolarWinds by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 76,740 shares of the software maker’s stock worth $1,089,000 after acquiring an additional 5,496 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of SolarWinds by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 222,770 shares of the software maker’s stock worth $3,162,000 after acquiring an additional 4,451 shares during the period. Hedge funds and other institutional investors own 96.54% of the company’s stock.

SolarWinds Company Profile (Get Rating)

SolarWinds Corporation provides information technology (IT) management software products in the United States and internationally. The company offers a portfolio of solutions to technology professionals for monitoring, managing, and optimizing networks, systems, desktops, applications, storage, databases, website infrastructures, and IT service desks.

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