SecureWorks Corp. (SCWX) Upgraded at Zacks Investment Research
SecureWorks Corp. (NASDAQ:SCWX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “SecureWorks Corp. offers intelligence-driven information security solutions focused on protecting 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. Its integrated suite of solutions include managed security, threat intelligence, security and risk consulting as well as incident response. SecureWorks Corp. is based in Atlanta, Georgia. “
Several other research firms have also recently issued reports on SCWX. UBS AG reiterated a “neutral” rating and issued a $11.00 target price (down from $12.00) on shares of SecureWorks Corp. in a research note on Friday, June 9th. Barclays PLC restated a “hold” rating and set a $11.00 price objective on shares of SecureWorks Corp. in a research report on Wednesday, June 7th. Finally, Citigroup Inc. restated a “neutral” rating and set a $11.00 price objective (up from $10.00) on shares of SecureWorks Corp. in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.50.
Shares of SecureWorks Corp. (NASDAQ:SCWX) traded up 0.63% during mid-day trading on Friday, hitting $11.10. 82,568 shares of the stock traded hands. The stock’s market cap is $899.91 million. SecureWorks Corp. has a 12 month low of $8.25 and a 12 month high of $13.65. The firm has a 50 day moving average of $10.64 and a 200 day moving average of $10.17.
SecureWorks Corp. (NASDAQ:SCWX) last posted its earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. SecureWorks Corp. had a negative net margin of 8.97% and a negative return on equity of 3.32%. The firm had revenue of $116.27 million during the quarter, compared to analysts’ expectations of $113.75 million. During the same period in the previous year, the business posted ($0.07) EPS. The business’s revenue was up 11.9% compared to the same quarter last year. On average, equities analysts expect that SecureWorks Corp. will post ($0.31) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the business. Teachers Advisors LLC raised its position in SecureWorks Corp. by 32.2% during the second quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after acquiring an additional 3,135 shares during the period. JPMorgan Chase & Co. raised its position in SecureWorks Corp. by 8.0% during the second quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,022 shares during the period. Renaissance Technologies LLC acquired a new position in SecureWorks Corp. during the first quarter worth $133,000. California State Teachers Retirement System raised its position in SecureWorks Corp. by 15.3% during the second quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,900 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new position in SecureWorks Corp. during the first quarter worth $147,000. Institutional investors own 7.66% of the company’s stock.
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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