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Zacks #1 Stocks on the Move 05/17/2013
| Company Name | Symbol | %Change |
|---|---|---|
| VIASAT INC | VSAT | 19.35% |
| OLD SECOND B | OSBC | 5.76% |
| GAMCO INVEST | GBL | 4.61% |
| CORNING INC | GLW | 4.47% |
| SYNCHRONOSS | SNCR | 4.23% |
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Company Description
SolarWinds develops, sells and supports information technology infrastructure management software worldwide. The company was founded in 1999 and has a market cap of $1.5 billion.
SolarWinds recently hit a new all-time high, fueled by strong Q3 results from late October that came in well ahead of expectations.
Third-Quarter Results
Revenue for the period was up 31% from last year to $54 million. Earnings also came in strong at 29 cents, 45% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 29% over the last four quarters.
The strong quarter was driven by maintenance revenue, with revenue up 40% from last year to $28 million. License revenue was up 22% to $25.5 million.
Financial Profile
The company has used its earnings momentum to strengthen its already solid financial profile, with cash and short-term investments up 58% from last year to $163 million against no long-term debt.
Estimates
We saw some solid movement in estimates off the good quarter, with the current year adding 10% to 88 cents. The next-year estimate is pegged at $1.00, a bullish 13% growth projection.
Valuation
With a PEG ratio of 2.54, SWI trades at a premium to the benchmark of 1 for value.
12-Month Chart
On the chart, shares have been surging for the last few months on the good quarter, recently hitting a new all-time high. Take a look below.
Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Whisper Trader Service.
Read the full Snapshot Report on SWI