SecureWorks Corp. (SCWX) Earns “Buy” Rating from J P Morgan Chase & Co
SecureWorks Corp. (NASDAQ:SCWX)‘s stock had its “buy” rating reissued by research analysts at J P Morgan Chase & Co in a research note issued on Thursday.
SCWX has been the subject of several other reports. Zacks Investment Research lowered SecureWorks Corp. from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Citigroup Inc. reiterated a “neutral” rating and set a $11.00 price objective (up from $10.00) on shares of SecureWorks Corp. in a research note on Thursday, September 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $15.00 target price (up from $13.00) on shares of SecureWorks Corp. in a research note on Tuesday, October 3rd. Finally, KeyCorp restated a “buy” rating and issued a $15.00 target price on shares of SecureWorks Corp. in a research note on Friday, October 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.70.
Shares of SecureWorks Corp. (SCWX) traded down 2.91% during trading on Thursday, hitting $12.03. 39,260 shares of the stock traded hands. The company’s market cap is $975.32 million. The firm’s 50-day moving average price is $12.22 and its 200-day moving average price is $12.22. SecureWorks Corp. has a 52 week low of $8.25 and a 52 week high of $12.99.
SecureWorks Corp. (NASDAQ:SCWX) last released its quarterly earnings data on Wednesday, September 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. SecureWorks Corp. had a negative return on equity of 3.32% and a negative net margin of 8.97%. The firm had revenue of $116.27 million during the quarter, compared to analyst estimates of $113.75 million. During the same period in the prior year, the company posted ($0.07) earnings per share. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that SecureWorks Corp. will post ($0.30) earnings per share for the current year.
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Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of SecureWorks Corp. by 10.9% in the second quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock valued at $8,078,000 after buying an additional 85,627 shares in the last quarter. FMR LLC acquired a new stake in shares of SecureWorks Corp. in the second quarter valued at $6,863,000. Horrell Capital Management Inc. increased its stake in shares of SecureWorks Corp. by 46.4% in the second quarter. Horrell Capital Management Inc. now owns 497,000 shares of the technology company’s stock valued at $4,617,000 after buying an additional 157,499 shares in the last quarter. Bank of America Corp DE increased its stake in shares of 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 buying an additional 58,478 shares in the last quarter. Finally, State Street Corp increased its stake in shares of SecureWorks Corp. by 13.6% in the second quarter. State Street Corp now owns 78,624 shares of the technology company’s stock valued at $731,000 after buying an additional 9,417 shares in 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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