SolarWinds Stock Jumps Despite Downgrades

Shares of SolarWinds (NYSE: SWI) have jumped today, up by 14% as of 11:50 a.m. EST, despite receiving multiple downgrades from Wall Street. Truist Securities and Baird both downgraded SolarWinds stock from buy to hold. Truist analyst Terry Tillman cut his price target from $26 to $14, while Baird analyst Rob Oliver dropped his valuation estimate from $24 to $15.

The network management software maker is at the heart of the massive hack that has impacted numerous U.S. government agencies, and shares have been extremely volatile since the breach was disclosed earlier this month.

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Source Fool.com