UPDATE: Jefferies Lowers PT on SolarWinds Following N-able Technologies Acquisition Close
In a report published Wednesday, Jefferies analyst Aaron Schwartz reiterated a Buy rating on SolarWinds (NYSE: SWI), but lowered the price target from $64.00 to $59.00.
In the report, Jefferies noted, “SWI closed its acquisition of N-able Technologies and there are reasons to be skeptical—specifically with the addition of a slightly different sales approach. But, we also believe SWI did not overpay to obtain a growth subscription model and the company has a successful record of taking methodical steps to position for sustainable long term growth. Patience is a part of the integration, but we continue to like the longer term thesis.”
SolarWinds closed on Tuesday at $42.15.
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