Secureworks (SCWX) Upgraded to Hold by BidaskClub

Secureworks (NASDAQ:SCWX) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Secureworks from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a report on Tuesday, December 12th. Royal Bank of Canada reissued a “buy” rating on shares of Secureworks in a report on Friday, December 8th. KeyCorp reissued a “buy” rating and issued a $13.00 price target on shares of Secureworks in a report on Thursday, December 7th. Needham & Company LLC started coverage on Secureworks in a research note on Tuesday, January 16th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. lowered Secureworks from an “overweight” rating to a “neutral” rating and set a $12.00 target price for the company. in a research note on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.95.

Secureworks (NASDAQ:SCWX) opened at $9.69 on Friday. Secureworks has a 1-year low of $8.10 and a 1-year high of $12.99. The firm has a market capitalization of $737.80, a price-to-earnings ratio of -17.30 and a beta of 2.41.

Secureworks (NASDAQ:SCWX) last released 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 return on equity of 3.95% and a negative net margin of 9.60%. The company had revenue of $117.53 million during the quarter, compared to analysts’ expectations of $115.67 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. research analysts anticipate that Secureworks will post -0.43 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in SCWX. SG Americas Securities LLC acquired a new position in Secureworks in the third quarter valued at $111,000. Teachers Advisors LLC increased its stake in Secureworks 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. increased its stake in Secureworks 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. California State Teachers Retirement System increased its stake in Secureworks 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. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Secureworks in the third quarter valued at $158,000. Hedge funds and other institutional investors own 8.19% of the company’s stock.

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About Secureworks

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.

Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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