SecureWorks Corp. (NASDAQ:SCWX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “

Other research analysts have also issued reports about the company. Barclays PLC restated a “hold” rating and issued a $11.00 target price on shares of SecureWorks Corp. in a research note on Wednesday, June 7th. UBS AG restated a “neutral” rating and issued a $11.00 target price (down from $12.00) on shares of SecureWorks Corp. in a research note on Friday, June 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.90.

SecureWorks Corp. (NASDAQ:SCWX) opened at 10.84 on Wednesday. The firm has a 50-day moving average of $10.18 and a 200-day moving average of $10.18. SecureWorks Corp. has a 12-month low of $8.25 and a 12-month high of $15.80. The firm’s market cap is $878.83 million.

SecureWorks Corp. (NASDAQ:SCWX) last issued its earnings results on Tuesday, June 6th. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $113.70 million during the quarter, compared to analyst estimates of $110.70 million. SecureWorks Corp. had a negative net margin of 9.21% and a negative return on equity of 3.82%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.09) earnings per share. On average, analysts expect that SecureWorks Corp. will post ($0.32) EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in SecureWorks Corp. during the first quarter valued at about $133,000. Parametric Portfolio Associates LLC bought a new position in SecureWorks Corp. during the first quarter valued at about $147,000. Goldman Sachs Group Inc. bought a new position in SecureWorks Corp. during the first quarter valued at about $147,000. Alliancebernstein L.P. raised its position in SecureWorks Corp. by 1.0% in the first quarter. Alliancebernstein L.P. now owns 20,100 shares of the technology company’s stock valued at $191,000 after buying an additional 200 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in SecureWorks Corp. by 2.0% in the first quarter. Bank of New York Mellon Corp now owns 21,098 shares of the technology company’s stock valued at $201,000 after buying an additional 423 shares in the last quarter. Hedge funds and other institutional investors own 59.54% of the company’s stock.

About SecureWorks Corp.

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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Analyst Recommendations for SecureWorks Corp. (NASDAQ:SCWX)

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