Secureworks (NASDAQ:SCWX) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, February 10th.
Several other research firms also recently issued reports on SCWX. Barclays downgraded Secureworks from an “equal weight” rating to an “underweight” rating and set a $11.00 price objective on the stock. in a report on Friday, October 13th. KeyCorp restated a “buy” rating and set a $15.00 price objective on shares of Secureworks in a report on Sunday, November 19th. Royal Bank of Canada restated a “buy” rating on shares of Secureworks in a report on Tuesday, November 7th. Zacks Investment Research raised Secureworks from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Needham & Company LLC started coverage on Secureworks in a research note on Tuesday, January 16th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Secureworks presently has a consensus rating of “Hold” and a consensus target price of $12.95.
Shares of Secureworks (NASDAQ:SCWX) opened at $9.93 on Friday. Secureworks has a 1 year low of $8.10 and a 1 year high of $12.99.
Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, December 6th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.03. The firm had revenue of $117.53 million for the quarter, compared to analysts’ expectations of $115.67 million. Secureworks had a negative net margin of 9.60% and a negative return on equity of 3.95%. Secureworks’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) earnings per share. sell-side analysts anticipate that Secureworks will post -0.43 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the business. Masters Capital Management LLC boosted its position in Secureworks by 8.1% during the fourth quarter. Masters Capital Management LLC now owns 1,000,000 shares of the technology company’s stock worth $8,870,000 after purchasing an additional 75,000 shares during the period. Vanguard Group Inc. boosted its position in Secureworks by 10.9% during the second quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock worth $8,078,000 after purchasing an additional 85,627 shares during the period. FMR LLC bought a new stake in Secureworks during the second quarter worth approximately $6,863,000. Horrell Capital Management Inc. boosted its position in Secureworks by 33.0% during the fourth quarter. Horrell Capital Management Inc. now owns 544,073 shares of the technology company’s stock worth $4,826,000 after purchasing an additional 135,000 shares during the period. Finally, Gagnon Securities LLC lifted its holdings in shares of Secureworks by 4.2% during the fourth quarter. Gagnon Securities LLC now owns 431,251 shares of the technology company’s stock worth $3,825,000 after buying an additional 17,537 shares during the last quarter. 7.58% of the stock is owned by hedge funds and other institutional investors.
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Secureworks Company Profile
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.
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