Solarwinds, Inc. (SWI) has been initiated today with coverage from the research analysts at Collins Stewart. Stewart begins this new coverage of Solarwinds with an initial price target set at $27 and rates performance of SWI as “neutral.” Stewart noted that the company struggled throughout 2010 trading regarding bullish momentum but noted 1Q 2011 was solid thanks to a large government deal.
Stewart is spot on with their sentiments. SWI did have a difficult period during the middle of 2010 trading, especially with the enormous bearish gap that formed on the open of July 22nd, 2011, nearly a while year ago. However, shares did rebound positively and made steady headway through the rest of 2010 trading and has proceeded to do much of the same for this year. SWI shares have rode continued trend support throughout all of 2011 for the majority of the year.
Solarwinds is slated to release their next earnings report on July 21st, 2011, and is estimated to post EPS of 20 cents. Their last earnings report was released on May 4th, 2011, and announced EPS of 21 cents with revenue totaling 43 million which was up 25.3% year to year. SWI is currently trading above its 50 & 200-day moving averages and 2011 is an up year for the company.
SolarWinds, Inc. and its subsidiaries design, develop, market, sell and support powerful yet easy-to-use enterprise IT infrastructure management software to IT professionals in organizations of all sizes. The company has market capitalization of $1,861,882,260 and 72,673,000 shares outstanding. SWI has a 52-week high of $26.68 with the low being $12.10 dollars.