SecureWorks (SCWX) Rating Increased to Sell at BidaskClub
SecureWorks (NASDAQ:SCWX) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Wednesday.
SCWX has been the subject of several other research reports. Royal Bank of Canada restated a “buy” rating on shares of SecureWorks in a report on Tuesday, November 7th. Zacks Investment Research lowered SecureWorks from a “hold” rating to a “sell” rating in a report on Friday, September 1st. J P Morgan Chase & Co restated a “buy” rating on shares of SecureWorks in a report on Thursday, October 12th. KeyCorp reaffirmed a “buy” rating and set a $15.00 target price on shares of SecureWorks in a report on Friday, October 6th. Finally, Citigroup reaffirmed a “neutral” rating and set a $11.00 target price (up from $10.00) on shares of SecureWorks in a 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 stock. The stock has an average rating of “Hold” and a consensus price target of $12.95.
Shares of SecureWorks (SCWX) traded up $0.23 during trading on Wednesday, hitting $9.75. The stock had a trading volume of 162,400 shares, compared to its average volume of 102,743. SecureWorks has a twelve month low of $8.10 and a twelve month high of $12.99.
SecureWorks (NASDAQ:SCWX) last announced its quarterly earnings data on Wednesday, December 6th. The technology company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. The business had revenue of $117.53 million during the quarter, compared to analyst estimates of $115.67 million. SecureWorks had a negative return on equity of 3.95% and a negative net margin of 9.60%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. analysts forecast that SecureWorks will post -0.43 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in SecureWorks in the 3rd quarter worth about $111,000. Teachers Advisors LLC lifted its stake in SecureWorks 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 in the last quarter. JPMorgan Chase & Co. lifted its stake in SecureWorks 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 in the last quarter. California State Teachers Retirement System lifted its stake in SecureWorks 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 in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in SecureWorks in the 1st quarter worth about $133,000. 7.96% of the stock is owned by institutional investors and hedge funds.
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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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