SecureWorks Corp. (SCWX) Stock Rating Reaffirmed by Citigroup Inc.
SecureWorks Corp. (NASDAQ:SCWX)‘s stock had its “neutral” rating reaffirmed by investment analysts at Citigroup Inc. in a research report issued to clients and investors on Thursday. They presently have a $11.00 price target on the technology company’s stock, up from their previous price target of $10.00. Citigroup Inc.’s target price points to a potential downside of 0.27% from the stock’s previous close.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of SecureWorks Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Barclays PLC reiterated a “hold” rating and issued a $11.00 price target on shares of SecureWorks Corp. in a research report on Wednesday, June 7th. Finally, UBS AG reiterated a “neutral” rating and issued a $11.00 price target (down from $12.00) on shares of SecureWorks Corp. in a research report on Friday, June 9th. Two investment analysts have 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 an average rating of “Hold” and an average price target of $13.50.
SecureWorks Corp. (NASDAQ:SCWX) traded up 2.13% on Thursday, hitting $11.03. 142,043 shares of the stock traded hands. The firm’s market cap is $894.24 million. SecureWorks Corp. has a 12-month low of $8.25 and a 12-month high of $14.01. The stock has a 50-day moving average of $10.63 and a 200-day moving average of $10.16.
SecureWorks Corp. (NASDAQ:SCWX) last posted its earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. SecureWorks Corp. had a negative net margin of 9.21% and a negative return on equity of 3.25%. The business had revenue of $116.27 million for the quarter, compared to analyst estimates of $113.75 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Analysts forecast that SecureWorks Corp. will post ($0.31) earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the company. Trexquant Investment LP grew its holdings in shares of SecureWorks Corp. by 158.1% during the first quarter. Trexquant Investment LP now owns 35,100 shares of the technology company’s stock worth $333,000 after purchasing an additional 21,501 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in SecureWorks Corp. in the first quarter valued at approximately $147,000. Bank of America Corp DE boosted its holdings in SecureWorks Corp. by 128.7% in the first quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock valued at $987,000 after acquiring an additional 58,478 shares during the last quarter. Penserra Capital Management LLC bought a new stake in SecureWorks Corp. in the first quarter valued at approximately $4,076,000. Finally, Vanguard Group Inc. boosted its holdings in SecureWorks Corp. by 9.6% in the first quarter. Vanguard Group Inc. now owns 783,848 shares of the technology company’s stock valued at $7,447,000 after acquiring an additional 68,479 shares during the last quarter. Institutional investors own 7.66% of the company’s stock.
SecureWorks Corp. Company Profile
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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