Secureworks (NASDAQ:SCWX)‘s stock had its “underperform” rating reissued by analysts at Bank of America in a research note issued to investors on Friday, MarketBeat Ratings reports. They currently have a $10.50 price target on the technology company’s stock, up from their prior price target of $9.00. Bank of America’s target price would suggest a potential downside of 32.86% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of Secureworks from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. BidaskClub raised shares of Secureworks from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Zacks Investment Research cut shares of Secureworks from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. Stifel Nicolaus raised their target price on shares of Secureworks from $10.50 to $11.50 and gave the stock a “hold” rating in a report on Thursday, September 6th. Finally, First Analysis cut shares of Secureworks from an “outperform” rating to a “neutral” rating and raised their target price for the stock from $14.00 to $17.00 in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Secureworks presently has a consensus rating of “Hold” and an average price target of $13.33.
Shares of SCWX stock opened at $15.64 on Friday. Secureworks has a one year low of $7.83 and a one year high of $18.97.
Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Thursday, December 6th. The technology company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.11. Secureworks had a negative net margin of 3.43% and a negative return on equity of 3.31%. The business had revenue of $133.06 million for the quarter, compared to analysts’ expectations of $130.52 million. During the same quarter last year, the company posted ($0.06) earnings per share. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, analysts expect that Secureworks will post -0.34 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers bought a new position in Secureworks in the second quarter worth about $142,000. Citadel Advisors LLC bought a new position in Secureworks in the third quarter worth about $178,000. Engineers Gate Manager LP bought a new position in Secureworks in the second quarter worth about $186,000. AXA bought a new position in Secureworks in the third quarter worth about $193,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Secureworks in the third quarter worth about $331,000. 9.56% of the stock is currently owned by hedge funds and other institutional investors.
SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations 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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