SecureWorks Corp. (SCWX) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of SecureWorks Corp. (NASDAQ:SCWX) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
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. “
SCWX has been the topic of a number of other research reports. Citigroup Inc. restated a neutral rating and set a $11.00 price target (up previously from $10.00) on shares of SecureWorks Corp. in a report on Thursday. Barclays PLC restated a hold rating and set a $11.00 price target on shares of SecureWorks Corp. in a report on Wednesday, June 7th. Finally, UBS AG restated a neutral rating and set a $11.00 price target (down previously from $12.00) on shares of SecureWorks Corp. in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. SecureWorks Corp. has a consensus rating of Hold and an average target price of $13.50.
Shares of SecureWorks Corp. (SCWX) opened at 11.10 on Friday. The stock’s 50 day moving average price is $10.64 and its 200-day moving average price is $10.17. The firm’s market cap is $899.92 million. SecureWorks Corp. has a 52-week low of $8.25 and a 52-week high of $14.01.
SecureWorks Corp. (NASDAQ:SCWX) last released its quarterly earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $116.27 million for the quarter, compared to the consensus estimate of $113.75 million. SecureWorks Corp. had a negative net margin of 8.97% and a negative return on equity of 3.32%. SecureWorks Corp.’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. On average, equities research analysts anticipate that SecureWorks Corp. will post ($0.31) earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently made changes to their positions in SCWX. Teachers Advisors LLC raised its holdings in SecureWorks Corp. by 32.2% in the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after acquiring an additional 3,135 shares during the period. JPMorgan Chase & Co. raised its holdings in SecureWorks Corp. by 8.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,022 shares during the period. Renaissance Technologies LLC bought a new position in SecureWorks Corp. in the 1st quarter worth $133,000. California State Teachers Retirement System raised its holdings in SecureWorks Corp. by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,900 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in SecureWorks Corp. in the 1st quarter worth $147,000. Hedge funds and other institutional investors own 7.66% 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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