SolarWinds (NYSE:SWI) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of SolarWinds (NYSE:SWI) from a hold rating to a sell rating in a research report report published on Friday, Zacks.com reports.

According to Zacks, “SolarWinds Corporation designs and develops information technology management software. The Company offers solutions consisting of network performance monitoring, configuration, virtualization, database management, hosted logs, security and configuration. SolarWinds Corporation is based in TX, United States. “

A number of other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of SolarWinds from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Goldman Sachs Group downgraded shares of SolarWinds from a neutral rating to a sell rating and dropped their price objective for the company from $20.00 to $17.50 in a research report on Sunday, June 30th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $19.43.

Shares of SWI opened at $19.00 on Friday. SolarWinds has a fifty-two week low of $12.25 and a fifty-two week high of $21.22. The firm’s 50 day moving average price is $17.58 and its 200 day moving average price is $18.38. The company has a market cap of $5.96 billion and a P/E ratio of 33.33. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.72.

SolarWinds (NYSE:SWI) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). SolarWinds had a net margin of 67.62% and a return on equity of 8.56%. The firm had revenue of $230.60 million during the quarter, compared to analysts’ expectations of $226.51 million. SolarWinds’s revenue was up 14.3% on a year-over-year basis. Research analysts forecast that SolarWinds will post 0.74 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of SWI. Vanguard Group Inc. grew its position in shares of SolarWinds by 4,126.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,358,127 shares of the software maker’s stock valued at $61,588,000 after buying an additional 3,278,676 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of SolarWinds in the 2nd quarter valued at $35,146,000. FMR LLC grew its position in shares of SolarWinds by 102.9% in the 1st quarter. FMR LLC now owns 3,696,604 shares of the software maker’s stock valued at $72,158,000 after buying an additional 1,874,976 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of SolarWinds by 1,999.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,171,375 shares of the software maker’s stock valued at $22,865,000 after buying an additional 1,115,575 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in shares of SolarWinds in the 2nd quarter valued at $15,392,000. 95.68% of the stock is currently owned by hedge funds and other institutional investors.

About SolarWinds

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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