SolarWinds Plans Riyadh Office In 2025, Citing Growing Tech Investment
Portfolio Pulse from Anusuya Lahiri
SolarWinds Corp plans to open a new office in Riyadh by 2025, driven by growing tech investments in Saudi Arabia. The company has seen double-digit growth since opening a Dubai office in 2022 and is considering moving its EMEA headquarters to Dubai. SolarWinds reported a 4% revenue growth in Q2 2024, surpassing analyst expectations, and anticipates further growth in Q3. The stock has gained 37% over the past year.
October 17, 2024 | 6:29 pm
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SolarWinds plans to open a new office in Riyadh by 2025, driven by growing tech investments in Saudi Arabia. The company has seen double-digit growth since opening a Dubai office in 2022 and is considering moving its EMEA headquarters to Dubai. SolarWinds reported a 4% revenue growth in Q2 2024, surpassing analyst expectations, and anticipates further growth in Q3. The stock has gained 37% over the past year.
The announcement of a new office in Riyadh indicates expansion and potential revenue growth, which is positive for the stock. The company's recent financial performance, beating analyst expectations, further supports a positive outlook. The stock's 37% gain over the past year and the recent analyst coverage with a price target of $13 suggest continued investor interest.
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