SecureWorks Corp.’s (SCWX) Lock-Up Period Will End on October 19th
SecureWorks Corp.’s (NASDAQ:SCWX) lock-up period is set to expire on Wednesday, October 19th. SecureWorks Corp. had issued 8,000,000 shares in its IPO on April 22nd. The total size of the offering was $112,000,000 based on an initial share price of $14.00. After the end of SecureWorks Corp.’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
A number of equities research analysts have commented on the company. Zacks Investment Research raised SecureWorks Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Citigroup Inc. raised their price target on SecureWorks Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.83.
Shares of SecureWorks Corp. (NASDAQ:SCWX) opened at 12.54 on Wednesday. The stock has a 50 day moving average price of $13.20 and a 200 day moving average price of $13.73. The company’s market capitalization is $1.01 billion. SecureWorks Corp. has a one year low of $11.85 and a one year high of $16.23.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/12/secureworks-corp-s-scwx-lock-up-period-will-end-on-october-19th.html
SecureWorks Corp. (NASDAQ:SCWX) last released its quarterly earnings results on Tuesday, September 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $103.90 million for the quarter. SecureWorks Corp.’s quarterly revenue was up 29.1% on a year-over-year basis. On average, equities research analysts predict that SecureWorks Corp. will post ($0.31) earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in SecureWorks Corp. during the second quarter valued at $14,828,000. Masters Capital Management LLC bought a new position in SecureWorks Corp. during the second quarter valued at $10,899,000. Vanguard Group Inc. bought a new position in SecureWorks Corp. during the second quarter valued at $8,047,000. Penserra Capital Management LLC bought a new position in SecureWorks Corp. during the second quarter valued at $4,676,000. Finally, Waddell & Reed Financial Inc. bought a new position in SecureWorks Corp. during the second quarter valued at $4,522,000. Hedge funds and other institutional investors own 76.45% of the company’s stock.
About SecureWorks Corp.
Secureworks Corp. is a provider of intelligence-driven information security solutions focused on protecting its clients from cyber-attacks. The Company’s solutions enable organizations to fortify their cyber defenses to prevent security breaches; detect malicious activity in real time; prioritize and respond rapidly to security breaches, and predict emerging threats.
Receive News & Ratings for SecureWorks Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SecureWorks Corp. and related companies with MarketBeat.com's FREE daily email newsletter.