Bank of America restated their underperform rating on shares of Secureworks (NASDAQ:SCWX) in a research report report published on Friday morning, MarketBeat Ratings reports. Bank of America currently has a $10.50 target price on the technology company’s stock, up from their prior target price of $9.00.
Other equities analysts have also recently issued reports about the stock. Morgan Stanley raised their price target on shares of Secureworks from $14.00 to $15.00 and gave the stock a buy rating in a research note on Thursday, September 6th. BidaskClub raised shares of Secureworks from a hold rating to a buy rating in a research note on Thursday, September 27th. Zacks Investment Research cut shares of Secureworks from a buy rating to a hold rating in a research note on Wednesday, November 7th. Stifel Nicolaus raised their price target on shares of Secureworks from $10.50 to $11.50 and gave the stock a hold rating in a research note on Thursday, September 6th. Finally, First Analysis cut shares of Secureworks from an outperform rating to a neutral rating and raised their price target for the stock from $14.00 to $17.00 in a research note on Thursday. Three research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Secureworks has an average rating of Hold and a consensus price target of $13.33.
SCWX stock traded down $1.46 during mid-day trading on Friday, hitting $15.64. 398,159 shares of the company were exchanged, compared to its average volume of 187,705. Secureworks has a 1-year low of $7.83 and a 1-year high of $18.97.
Secureworks (NASDAQ:SCWX) last announced its earnings results on Thursday, December 6th. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.11. The firm had revenue of $133.06 million for the quarter, compared to the consensus estimate of $130.52 million. Secureworks had a negative net margin of 3.43% and a negative return on equity of 3.31%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. On average, analysts forecast that Secureworks will post -0.34 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in shares of Secureworks by 60.4% in the second quarter. Renaissance Technologies LLC now owns 387,000 shares of the technology company’s stock valued at $4,818,000 after buying an additional 145,700 shares in the last quarter. Royce & Associates LP bought a new position in shares of Secureworks in the second quarter valued at $5,808,000. Millennium Management LLC grew its stake in shares of Secureworks by 160.0% in the second quarter. Millennium Management LLC now owns 50,713 shares of the technology company’s stock valued at $631,000 after buying an additional 31,208 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Secureworks in the third quarter valued at $331,000. Finally, BlackRock Inc. grew its stake in shares of Secureworks by 27.8% in the second quarter. BlackRock Inc. now owns 425,529 shares of the technology company’s stock valued at $5,299,000 after buying an additional 92,683 shares in the last quarter. 9.56% of the stock is owned by institutional investors and hedge funds.
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.
Featured Story: How do candlesticks reflect price movement?
Receive News & Ratings for Secureworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Secureworks and related companies with MarketBeat.com's FREE daily email newsletter.