SolarWinds (NYSE:SWI) Issues FY24 Earnings Guidance

SolarWinds (NYSE:SWI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.00-1.04 for the period, compared to the consensus 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.

SolarWinds Price Performance

Shares of SWI opened at $11.70 on Friday. The stock has a market capitalization of $1.97 billion, a PE ratio of 167.14 and a beta of 0.97. The company has a 50 day moving average price of $11.73 and a 200-day moving average price of $11.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. SolarWinds has a fifty-two week low of $8.50 and a fifty-two week high of $13.43.

SolarWinds (NYSE:SWI) last posted its earnings results on Thursday, February 8th. The software maker reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. SolarWinds had a return on equity of 6.33% and a net margin of 1.58%. The company had revenue of $198.14 million during the quarter, compared to analyst estimates of $190.54 million. Equities analysts predict that SolarWinds will post 0.62 earnings per share for the current fiscal year.

SolarWinds Announces Dividend

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

Analyst Ratings Changes

SWI has been the subject of a number of research analyst reports. 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 for the company. JPMorgan Chase & Co. initiated 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. Finally, Royal Bank of Canada raised their target price on SolarWinds from $13.00 to $15.00 and gave the stock a sector perform rating in a report on Friday, February 9th. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $13.50.

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.