SecureWorks Corp. (SCWX) Receives Consensus Rating of “Hold” from Analysts
SecureWorks Corp. (NASDAQ:SCWX) has earned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $13.11.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of SecureWorks from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub raised shares of SecureWorks from a “strong sell” rating to a “sell” rating in a report on Wednesday. Royal Bank of Canada reaffirmed a “buy” rating on shares of SecureWorks in a report on Friday, December 8th. KeyCorp reiterated a “buy” rating and set a $13.00 price objective on shares of SecureWorks in a research report on Thursday, December 7th. Finally, J P Morgan Chase & Co cut shares of SecureWorks from an “overweight” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research report on Wednesday, December 6th.
A number of hedge funds have recently added to or reduced their stakes in SCWX. FMR LLC acquired a new position in SecureWorks during the 2nd quarter worth approximately $6,863,000. Gagnon Securities LLC acquired a new position in SecureWorks in the 3rd quarter valued at approximately $5,109,000. Vanguard Group Inc. increased its position in SecureWorks by 10.9% in the 2nd quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock valued at $8,078,000 after acquiring an additional 85,627 shares during the period. King Luther Capital Management Corp increased its position in SecureWorks by 354.3% in the 3rd quarter. King Luther Capital Management Corp now owns 99,940 shares of the technology company’s stock valued at $1,234,000 after acquiring an additional 77,940 shares during the period. Finally, Bank of America Corp DE increased its position in SecureWorks by 128.7% in the 1st 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 period. Institutional investors and hedge funds own 7.96% of the company’s stock.
SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, December 6th. The technology company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. SecureWorks had a negative net margin of 9.60% and a negative return on equity of 3.95%. The company had revenue of $117.53 million during the quarter, compared to the consensus estimate of $115.67 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. equities analysts predict that SecureWorks will post -0.43 earnings per share for the current year.
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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