SolarWinds (SWI) PT Lifted to $58 at Needham & Company Following Analyst Day

Needham & Company analyst Scott Zeller reiterated a Buy rating and raised his price target on SolarWinds (NYSE: SWI) to $58.00 (from $53.00) following the company's analyst day.

Zeller commented, "The Solarwind's analyst day was different this year, because management had already given out-year guidance before the event (on the recent 3Q call). We believe there was anticipation of how the company could explain its growth aspirations, while maintaining (not lowering) operating margins. We believe management delivered a cohesive message for growth while opening the door to possible margin overage should revenues be near the high end of guidance or above. Plans for growth driven by cross-selling, international expansion, APM, and MSP (N-Able) resonated with us, and gives us confidence that estimates may be conservative."

For an analyst ratings summary and ratings history on SolarWinds click here. For more ratings news on SolarWinds click here.

Shares of SolarWinds closed at $50.51 yesterday.

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