SecureWorks Corp. (SCWX) Receives Average Rating of “Hold” from Analysts
Shares of SecureWorks Corp. (NASDAQ:SCWX) have been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.50.
A number of research firms recently issued reports on SCWX. KeyCorp reaffirmed a “buy” rating and issued a $15.00 target price on shares of SecureWorks Corp. in a research report on Friday, October 6th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of SecureWorks Corp. in a research report on Thursday, October 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $15.00 target price (up previously from $13.00) on shares of SecureWorks Corp. in a research report on Tuesday, October 3rd. Zacks Investment Research downgraded SecureWorks Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, Barclays PLC downgraded SecureWorks Corp. from an “equal weight” rating to an “underweight” rating and set a $11.00 target price on the stock. in a research report on Friday, October 13th.
Shares of SecureWorks Corp. (SCWX) opened at $9.85 on Friday. SecureWorks Corp. has a twelve month low of $8.25 and a twelve month high of $12.99.
SecureWorks Corp. (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, September 6th. The technology company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $116.27 million for the quarter, compared to analyst estimates of $113.75 million. SecureWorks Corp. had a negative return on equity of 3.32% and a negative net margin of 8.97%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) earnings per share. equities analysts forecast that SecureWorks Corp. will post -0.45 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of SecureWorks Corp. in the third quarter valued at approximately $111,000. Teachers Advisors LLC grew its position in shares of SecureWorks Corp. by 32.2% in the second quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,135 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of SecureWorks Corp. by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock valued at $129,000 after purchasing an additional 1,022 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of SecureWorks Corp. in the first quarter valued at approximately $133,000. Finally, California State Teachers Retirement System grew its position in shares of SecureWorks Corp. by 15.3% in the second quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock valued at $133,000 after purchasing an additional 1,900 shares during the last quarter. 7.53% of the stock is currently owned by institutional investors.
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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