Secureworks (SCWX) Updates Q4 2019 Earnings Guidance

Secureworks (NASDAQ:SCWX) updated its fourth quarter 2019 earnings guidance on Thursday. The company provided earnings per share guidance of $0.00-0.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.04. The company issued revenue guidance of $132-133 million, compared to the consensus revenue estimate of $133.74 million.Secureworks also updated its FY 2019 guidance to $-0.01-0.00 EPS.

A number of analysts recently commented on the company. BidaskClub upgraded Secureworks from a buy rating to a strong-buy rating in a research report on Saturday, December 1st. Zacks Investment Research cut Secureworks from a buy rating to a hold rating in a research report on Wednesday, November 7th. Stifel Nicolaus upped their price objective on Secureworks from $10.50 to $11.50 and gave the company a hold rating in a research report on Thursday, September 6th. Morgan Stanley upped their price objective on Secureworks from $14.00 to $15.00 and gave the company a buy rating in a research report on Thursday, September 6th. Finally, UBS Group cut Secureworks from a neutral rating to a sell rating and set a $11.00 price target for the company. in a research report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $12.00.

SCWX traded down $0.33 during midday trading on Thursday, reaching $17.25. The company had a trading volume of 6,138 shares, compared to its average volume of 179,090. Secureworks has a 1 year low of $7.83 and a 1 year high of $18.97. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -39.78 and a beta of 0.35.

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

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About Secureworks

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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