Truist Financial Maintains 'Hold' Rating for SolarWinds (NYSE:SWI)

Analysts at Truist Financial have reaffirmed their "hold" rating on shares of SolarWinds (NYSE:SWI) in a recent research note to clients and investors. The firm has set a new price target of $18.50 for the software company's stock, an increase from its previous target of $13.00. This new target represents a potential upside of approximately 0.84% from the current trading price of SolarWinds.

In recent weeks, SolarWinds has garnered attention from different research firms. For instance, Wedbush downgraded the stock from an "outperform" to a "neutral" rating, while also reducing their price target from $20.00 to $18.50. On January 21, Royal Bank of Canada raised its target price from $13.00 to $16.00 and assigned a "sector perform" rating. Additionally, Robert W. Baird increased their price target for SolarWinds from $15.00 to $18.50, categorizing it as a "neutral" rating. Another firm, Scotiabank, raised its price target from $13.00 to $15.00, maintaining a "sector perform" rating.

Current Stock Performance of SolarWinds

SolarWinds shares opened at $18.35 on Monday. The stock's performance can be tracked through various moving averages, including a 50-day simple moving average of $14.47 and a 200-day simple moving average of $13.35. The company currently holds a market cap of $3.13 billion and carries a price-to-earnings ratio of 83.44. Its 52-week trading range has been between $10.14 and $18.55.

Institutional Ownership Trends

Recently, several institutional investors have modified their positions in SolarWinds. Marshall Wace LLP acquired a new stake valued at $129,000 during the second quarter. The Manufacturers Life Insurance Company increased its stake by 9.4%, now owning 34,225 shares worth approximately $412,000 following the purchase of an additional 2,936 shares. Other notable stakes include Sanctuary Advisors LLC, which purchased shares worth about $230,000, and SG Americas Securities LLC, which acquired a stake valued at around $385,000. Institutional and hedge fund investors collectively own around 93.96% of SolarWinds’ stock.

Overview of SolarWinds Corporation

SolarWinds Corporation is a prominent provider of information technology management software, offering a variety of solutions designed to help organizations manage their network and infrastructure. Their software products enable real-time visibility into network performance and assist in troubleshooting issues that might arise.

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