Secureworks (NASDAQ:SCWX) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, BidAskClub reports.

Other equities analysts have also issued research reports about the company. TheStreet lowered Secureworks from a “c-” rating to a “d+” rating in a research note on Wednesday, August 7th. ValuEngine lowered Secureworks from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, Zacks Investment Research upgraded Secureworks from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $15.08.

SCWX stock traded up $0.30 during midday trading on Friday, reaching $12.62. The stock had a trading volume of 107,115 shares, compared to its average volume of 183,786. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a fifty day simple moving average of $12.68 and a two-hundred day simple moving average of $14.50. Secureworks has a 52-week low of $10.37 and a 52-week high of $24.91.

Secureworks (NASDAQ:SCWX) last issued its earnings results on Thursday, September 5th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.09. The company had revenue of $136.60 million during the quarter, compared to analyst estimates of $133.02 million. Secureworks had a negative return on equity of 1.61% and a negative net margin of 6.38%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.01) EPS. As a group, research analysts expect that Secureworks will post -0.3 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCWX. ETF Managers Group LLC raised its stake in shares of Secureworks by 51.2% during the 2nd quarter. ETF Managers Group LLC now owns 988,476 shares of the technology company’s stock valued at $13,196,000 after buying an additional 334,525 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of Secureworks during the 1st quarter valued at about $3,519,000. JPMorgan Chase & Co. grew its position in shares of Secureworks by 147.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 82,910 shares of the technology company’s stock valued at $1,107,000 after acquiring an additional 49,410 shares during the period. Bank of New York Mellon Corp grew its position in shares of Secureworks by 137.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 83,437 shares of the technology company’s stock valued at $1,108,000 after acquiring an additional 48,318 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Secureworks by 112.4% during the 2nd quarter. AQR Capital Management LLC now owns 84,830 shares of the technology company’s stock valued at $1,127,000 after acquiring an additional 44,882 shares during the period. Institutional investors and hedge funds own 9.36% of the company’s stock.

Secureworks Company Profile

SecureWorks Corp., a cybersecurity company, provides an integrated suite of intelligence-driven information security solutions focused on protecting organizations worldwide. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response.

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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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