SolarWinds Corp Reportedly Eyes Potential Sale, Stock Soars
Portfolio Pulse from Anusuya Lahiri
SolarWinds Corp (NYSE:SWI) is reportedly exploring options for a potential sale, causing its stock to trade higher. The software provider, controlled by Silver Lake Management and Thoma Bravo, is expected to kick off the sale process in early 2024. In Q2 FY23, SolarWinds reported a 5% YoY revenue growth to $185 million, beating the consensus of $179.5 million. The company expects FY23 revenue to be $740 million - $748 million.
October 27, 2023 | 4:34 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
SolarWinds Corp is exploring a potential sale, which has led to an increase in its stock price. The company has also reported strong Q2 FY23 results, beating revenue consensus.
The news of a potential sale usually leads to an increase in a company's stock price as it often results in a premium being paid for the company's shares. Additionally, SolarWinds has reported strong Q2 FY23 results, which is also a positive signal for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100