SecureWorks (NASDAQ:SCWX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

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 also recently issued reports on SCWX. KeyCorp reaffirmed a “buy” rating and set a $15.00 price target on shares of SecureWorks in a research note on Friday, October 6th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of SecureWorks in a research note on Thursday, October 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price target (up previously from $13.00) on shares of SecureWorks in a research note on Tuesday, October 3rd. Barclays downgraded SecureWorks from an “equal weight” rating to an “underweight” rating and set a $11.00 price target for the company. in a research note on Friday, October 13th. Finally, Citigroup reaffirmed a “neutral” rating and set a $11.00 price target (up previously from $10.00) on shares of SecureWorks in a research note on Thursday, September 7th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $12.95.

SecureWorks (NASDAQ:SCWX) traded up $0.41 during trading hours on Wednesday, hitting $9.52. The stock had a trading volume of 119,270 shares, compared to its average volume of 102,495. SecureWorks has a fifty-two week low of $8.10 and a fifty-two week high of $12.99.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings results on Wednesday, December 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The business had revenue of $117.53 million during the quarter, compared to the consensus estimate of $115.67 million. SecureWorks had a negative return on equity of 3.95% and a negative net margin of 9.60%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) EPS. research analysts forecast that SecureWorks will post -0.43 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in SecureWorks by 1.0% during the 1st quarter. Alliancebernstein L.P. now owns 20,100 shares of the technology company’s stock worth $191,000 after purchasing an additional 200 shares in the last quarter. JPMorgan Chase & Co. increased its position in SecureWorks by 8.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock worth $129,000 after purchasing an additional 1,022 shares in the last quarter. California State Teachers Retirement System increased its position in SecureWorks by 15.3% during the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after purchasing an additional 1,900 shares in the last quarter. Teachers Advisors LLC increased its position in SecureWorks by 32.2% during the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after purchasing an additional 3,135 shares in the last quarter. Finally, KBC Group NV increased its position in SecureWorks by 13.9% during the 2nd quarter. KBC Group NV now owns 36,064 shares of the technology company’s stock worth $335,000 after purchasing an additional 4,389 shares in the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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SecureWorks 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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