Analysts Expect SecureWorks Corp. (SCWX) Will Post Quarterly Sales of $113.72 Million
Equities research analysts predict that SecureWorks Corp. (NASDAQ:SCWX) will report sales of $113.72 million for the current quarter, Zacks reports. Four analysts have provided estimates for SecureWorks Corp.’s earnings, with the highest sales estimate coming in at $114.00 million and the lowest estimate coming in at $113.60 million. SecureWorks Corp. reported sales of $103.65 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.7%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that SecureWorks Corp. will report full year sales of $113.72 million for the current fiscal year, with estimates ranging from $462.00 million to $463.50 million. For the next year, analysts expect that the company will report sales of $509.59 million per share, with estimates ranging from $497.85 million to $527.63 million. Zacks’ sales calculations are an average based on a survey of research firms that follow SecureWorks Corp..
SecureWorks Corp. (NASDAQ:SCWX) last issued its earnings results on Tuesday, June 6th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by $0.02. SecureWorks Corp. had a negative net margin of 9.21% and a negative return on equity of 3.82%. The business had revenue of $113.70 million during the quarter, compared to the consensus estimate of $110.70 million. During the same period last year, the business posted ($0.09) EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year.
SCWX has been the topic of a number of research analyst reports. Goldman Sachs Group, Inc. (The) cut SecureWorks Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $12.00 in a report on Thursday, March 30th. Barclays PLC restated a “hold” rating and set a $11.00 price target on shares of SecureWorks Corp. in a report on Wednesday, June 7th. Bank of America Corporation cut SecureWorks Corp. from a “buy” rating to an “underperform” rating and set a $17.00 price target on the stock. in a report on Thursday, March 30th. Stifel Nicolaus cut their price target on SecureWorks Corp. from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, March 30th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of SecureWorks Corp. in a report on Thursday, March 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. SecureWorks Corp. currently has a consensus rating of “Hold” and an average target price of $14.22.
SecureWorks Corp. (NASDAQ SCWX) traded up 8.67% on Friday, reaching $10.28. 176,874 shares of the company traded hands. The stock’s market capitalization is $833.43 million. SecureWorks Corp. has a one year low of $8.25 and a one year high of $15.80. The firm has a 50 day moving average of $10.03 and a 200-day moving average of $10.19.
A number of large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP bought a new stake in SecureWorks Corp. during the fourth quarter worth approximately $144,000. Dynamic Technology Lab Private Ltd bought a new stake in SecureWorks Corp. during the fourth quarter worth approximately $145,000. A.R.T. Advisors LLC bought a new stake in SecureWorks Corp. during the fourth quarter worth approximately $160,000. Two Sigma Investments LP bought a new stake in SecureWorks Corp. during the fourth quarter worth approximately $144,000. Finally, Norges Bank bought a new stake in SecureWorks Corp. during the fourth quarter worth approximately $993,000. 59.35% of the stock is owned by institutional investors and hedge funds.
About SecureWorks Corp.
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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