Zacks Investment Research downgraded shares of SecureWorks (NASDAQ:SCWX) from a buy rating to a hold rating in a research note issued to investors 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. “

Several other research firms have also issued reports on SCWX. BidaskClub lowered shares of SecureWorks from a sell rating to a strong sell rating in a research report on Thursday, December 7th. KeyCorp restated a buy rating and issued a $15.00 price target on shares of SecureWorks in a research report on Sunday, November 19th. Royal Bank of Canada restated a buy rating on shares of SecureWorks in a research report on Tuesday, November 7th. J P Morgan Chase & Co restated a buy rating on shares of SecureWorks in a research report on Thursday, October 12th. Finally, Citigroup restated a neutral rating and issued a $11.00 price target (up from $10.00) on shares of SecureWorks in a research report on Thursday, September 7th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. SecureWorks presently has an average rating of Hold and an average price target of $12.95.

SecureWorks (SCWX) traded up $0.41 during trading hours on Wednesday, reaching $9.52. 119,200 shares of the company were exchanged, compared to its average volume of 102,495. SecureWorks has a 1-year low of $8.10 and a 1-year high of $12.99.

SecureWorks (NASDAQ:SCWX) last posted its earnings results on Wednesday, December 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. SecureWorks had a negative net margin of 9.60% and a negative return on equity of 3.95%. The business had revenue of $117.53 million for the quarter, compared to analyst estimates of $115.67 million. During the same period last year, the business posted ($0.02) EPS. SecureWorks’s revenue was up 9.7% compared to the same quarter last year. equities analysts anticipate that SecureWorks will post -0.43 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in SCWX. FMR LLC bought a new position in shares of SecureWorks during the 2nd quarter worth about $6,863,000. Gagnon Securities LLC bought a new position in SecureWorks during the 3rd quarter valued at about $5,109,000. Vanguard Group Inc. lifted its holdings in SecureWorks by 10.9% during the 2nd quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock valued at $8,078,000 after purchasing an additional 85,627 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in SecureWorks by 354.3% during the 3rd quarter. King Luther Capital Management Corp now owns 99,940 shares of the technology company’s stock valued at $1,234,000 after purchasing an additional 77,940 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in SecureWorks by 128.7% during the 1st quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock valued at $987,000 after purchasing an additional 58,478 shares during the last quarter. 7.96% of the stock is owned by institutional investors.

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SecureWorks Company Profile

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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