Secureworks (SCWX) Downgraded by BidaskClub to Sell

Secureworks (NASDAQ:SCWX) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, December 22nd.

A number of other brokerages have also commented on SCWX. Zacks Investment Research upgraded shares of Secureworks from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. KeyCorp reaffirmed a “buy” rating and issued a $15.00 target price on shares of Secureworks in a research report on Sunday, November 19th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Secureworks in a research report on Tuesday, November 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Secureworks in a research report on Thursday, October 12th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $11.00 target price (up previously from $10.00) on shares of Secureworks in a research report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.95.

Shares of Secureworks (NASDAQ SCWX) traded up $0.24 during trading hours on Friday, hitting $9.34. 39,900 shares of the company were exchanged, compared to its average volume of 42,022. Secureworks has a fifty-two week low of $8.10 and a fifty-two week high of $12.99. The firm has a market capitalization of $757.26 and a price-to-earnings ratio of -16.68.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings data on Wednesday, December 6th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Secureworks had a negative net margin of 9.60% and a negative return on equity of 3.95%. The business had revenue of $117.53 million for the quarter, compared to analyst estimates of $115.67 million. During the same period last year, the business posted ($0.02) earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. equities research analysts expect that Secureworks will post -0.43 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of Secureworks in the 3rd quarter valued at about $111,000. Teachers Advisors LLC grew its position in shares of Secureworks by 32.2% in the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock valued at $120,000 after acquiring an additional 3,135 shares during the period. JPMorgan Chase & Co. grew its position in shares of Secureworks by 8.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock valued at $129,000 after acquiring an additional 1,022 shares during the period. Renaissance Technologies LLC bought a new position in shares of Secureworks in the 1st quarter valued at about $133,000. Finally, California State Teachers Retirement System grew its position in shares of Secureworks by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock valued at $133,000 after acquiring an additional 1,900 shares during the period. 7.96% of the stock is owned by institutional investors.

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About Secureworks

Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.

Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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