In a report issued on July 19, Kirk Materne from Evercore ISI maintained a Hold rating on SolarWinds (SWI – Research Report), with a price target of $12.00. The company’s shares closed last Tuesday at $10.01, close to its 52-week low of $9.97.
According to TipRanks.com, Materne is a 4-star analyst with an average return of 5.4% and a 53.6% success rate. Materne covers the Technology sector, focusing on stocks such as CCC Intelligent Solutions Holdings, Qualtrics International, and Tyler Technologies.
The word on The Street in general, suggests a Hold analyst consensus rating for SolarWinds with a $16.20 average price target, a 51.4% upside from current levels. In a report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $14.00 price target.
Based on SolarWinds’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $177 million and GAAP net loss of $4.66 million. In comparison, last year the company earned revenue of $174 million and had a GAAP net loss of $7.16 million.
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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.
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