Secureworks (NASDAQ:SCWX) received a $11.00 price target from analysts at Bank of America in a report released on Saturday. The brokerage currently has a “sell” rating on the technology company’s stock. Bank of America’s target price points to a potential downside of 29.67% from the company’s current price.
SCWX has been the topic of several other research reports. Morgan Stanley lifted their price target on Secureworks from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, September 6th. First Analysis lowered Secureworks from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $17.00 in a report on Thursday. BidaskClub upgraded Secureworks from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. UBS Group lowered Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 price target on the stock. in a report on Friday, August 24th. Finally, Zacks Investment Research lowered Secureworks from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. Three analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Secureworks presently has a consensus rating of “Hold” and a consensus price target of $13.33.
Shares of NASDAQ SCWX opened at $15.64 on Friday. The company has a market cap of $1.44 billion, a PE ratio of -34.76 and a beta of 0.35. Secureworks has a 12 month low of $7.83 and a 12 month high of $18.97.
Secureworks (NASDAQ:SCWX) last released its quarterly earnings results on Thursday, December 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. Secureworks had a negative net margin of 5.13% and a negative return on equity of 4.67%. The firm 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 earned ($0.06) EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. Research analysts forecast that Secureworks will post -0.34 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of SCWX. Legal & General Group Plc grew its position in shares of Secureworks by 66,527.0% during the third quarter. Legal & General Group Plc now owns 685,592 shares of the technology company’s stock worth $10,044,000 after buying an additional 684,563 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Secureworks during the second quarter worth about $5,808,000. Renaissance Technologies LLC grew its position in shares of Secureworks by 60.4% during the second quarter. Renaissance Technologies LLC now owns 387,000 shares of the technology company’s stock worth $4,818,000 after buying an additional 145,700 shares in the last quarter. Gagnon Advisors LLC grew its position in shares of Secureworks by 50.6% during the second quarter. Gagnon Advisors LLC now owns 350,335 shares of the technology company’s stock worth $4,362,000 after buying an additional 117,735 shares in the last quarter. Finally, Gagnon Securities LLC grew its position in shares of Secureworks by 26.0% during the second quarter. Gagnon Securities LLC now owns 524,963 shares of the technology company’s stock worth $6,536,000 after buying an additional 108,322 shares in the last quarter. Institutional investors own 9.56% of the company’s stock.
Secureworks Company Profile
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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