Secureworks (SCWX) Updates FY 2019 Earnings Guidance

Secureworks (NASDAQ:SCWX) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $-0.01-0.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.16. The company issued revenue guidance of $520-521 million, compared to the consensus revenue estimate of $519.27 million.Secureworks also updated its FY 2020 guidance to EPS.

Shares of NASDAQ:SCWX opened at $17.58 on Thursday. The stock has a market cap of $1.44 billion, a P/E ratio of -39.07 and a beta of 0.35. Secureworks has a 12-month low of $7.83 and a 12-month high of $18.97.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings data on Wednesday, September 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $128.80 million during the quarter, compared to the consensus estimate of $127.62 million. Secureworks had a negative return on equity of 4.67% and a negative net margin of 5.13%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned ($0.07) EPS. Analysts predict that Secureworks will post -0.34 earnings per share for the current fiscal year.

A number of analysts recently issued reports on SCWX shares. Morgan Stanley raised their price objective on Secureworks from $14.00 to $15.00 and gave the stock a buy rating in a research report on Thursday, September 6th. BidaskClub raised Secureworks from a hold rating to a buy rating in a research report on Thursday, September 27th. Zacks Investment Research downgraded Secureworks from a buy rating to a hold rating in a research report on Wednesday, November 7th. Stifel Nicolaus lifted their target price on Secureworks from $10.50 to $11.50 and gave the company a hold rating in a research report on Thursday, September 6th. Finally, UBS Group downgraded Secureworks from a neutral rating to a sell rating and set a $11.00 target price for the company. in a research report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Secureworks currently has a consensus rating of Buy and an average price target of $12.00.

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Secureworks Company Profile

SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations 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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