In a report released yesterday, Dan Bergstrom from RBC Capital maintained a Hold rating on SolarWinds (SWI – Research Report), with a price target of $13.00. The company’s shares opened today at $10.60.
According to TipRanks, Bergstrom is a 4-star analyst with an average return of 16.2% and a 60.98% success rate. Bergstrom covers the Technology sector, focusing on stocks such as Fortinet, Ansys, and Check Point.
Currently, the analyst consensus on SolarWinds is a Hold with an average price target of $15.50, representing a 46.23% upside. In a report released today, Morgan Stanley also maintained a Hold rating on the stock with a $12.00 price target.
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Based on SolarWinds’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $169.45 million and a net profit of $260 thousand. In comparison, last year the company earned a revenue of $150.95 million and had a GAAP net loss of $622.12 million
Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SWI in relation to earlier this year.
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SolarWinds (SWI) Company Description:
SolarWinds Corp. engages in the provision of information technology (IT)infrastructure management software. It provides network management, systems management, database management, IT security, IT helpdesk, and cloud services. The company was founded in 1999 and is headquartered in Austin, TX.
Read More on SWI:
- SolarWinds (NYSE:SWI) & Its Top Executive Face SEC Lawsuit
- SolarWinds, CISO charged by SEC with fraud, internal control failures
- SolarWinds could attract ‘variety of buyers,’ says Truist
- SolarWinds exploring options, including potential sale, Bloomberg says
- SolarWinds management to meet virtually with Truist
