RBC Capital Reaffirms Their Hold Rating on SolarWinds (SWI)

In a report released today, Matthew Hedberg from RBC Capital maintained a Hold rating on SolarWinds (SWIResearch Report), with a price target of $12.00. The company’s shares closed last Wednesday at $9.55, close to its 52-week low of $9.36.

According to TipRanks.com, Hedberg has 0 stars on 0-5 stars ranking scale with an average return of -7.7% and a 35.5% success rate. Hedberg covers the Technology sector, focusing on stocks such as Ping Identity Holding, DoubleVerify Holdings, and CrowdStrike Holdings.

The word on The Street in general, suggests a Hold analyst consensus rating for SolarWinds with a $14.67 average price target, which is a 58.1% upside from current levels. In a report issued on July 19, Evercore ISI 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 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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