Zacks Investment Research cut shares of Secureworks (NASDAQ:SCWX) from a buy rating to a hold rating in a report issued 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. “

SCWX has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Secureworks from $14.00 to $15.00 and gave the stock a buy rating in a research report on Thursday, September 6th. BidaskClub upgraded shares of Secureworks from a hold rating to a buy rating in a research report on Thursday, October 18th. UBS Group downgraded shares of Secureworks from a neutral rating to a sell rating and set a $11.00 target price for the company. in a research report on Friday, August 24th. Finally, Stifel Nicolaus increased their target price on shares of Secureworks from $10.50 to $11.50 and gave the stock a hold rating in a research report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Secureworks has a consensus rating of Buy and a consensus price target of $12.00.

Shares of NASDAQ:SCWX traded down $1.44 during mid-day trading on Wednesday, hitting $16.63. The stock had a trading volume of 147,912 shares, compared to its average volume of 165,580. The company has a market cap of $1.50 billion, a PE ratio of -36.96 and a beta of 0.31. Secureworks has a 12-month low of $7.83 and a 12-month high of $18.97.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, September 5th. The technology company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. Secureworks had a negative net margin of 5.13% and a negative return on equity of 4.67%. The business had revenue of $128.80 million during the quarter, compared to the consensus estimate of $127.62 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Secureworks will post -0.34 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in SCWX. Royce & Associates LP acquired a new position in shares of Secureworks during the 2nd quarter worth $5,808,000. Renaissance Technologies LLC increased its stake in shares of Secureworks by 60.4% during the 2nd quarter. Renaissance Technologies LLC now owns 387,000 shares of the technology company’s stock worth $4,818,000 after purchasing an additional 145,700 shares during the last quarter. Gagnon Advisors LLC increased its stake in shares of Secureworks by 50.6% during the 2nd quarter. Gagnon Advisors LLC now owns 350,335 shares of the technology company’s stock worth $4,362,000 after purchasing an additional 117,735 shares during the last quarter. Gagnon Securities LLC increased its stake in shares of Secureworks by 26.0% during the 2nd quarter. Gagnon Securities LLC now owns 524,963 shares of the technology company’s stock worth $6,536,000 after purchasing an additional 108,322 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Secureworks by 27.8% during the 2nd quarter. BlackRock Inc. now owns 425,529 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 92,683 shares during the last quarter. Institutional investors own 8.76% 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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