Secureworks Corp (NASDAQ:SCWX) has received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $14.39.
A number of equities research analysts have recently weighed in on SCWX shares. BidaskClub upgraded shares of Secureworks from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Bank of America set a $11.00 price target on shares of Secureworks and gave the company a “sell” rating in a research note on Saturday, December 8th. Zacks Investment Research upgraded shares of Secureworks from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research note on Thursday, December 13th. Royal Bank of Canada downgraded shares of Secureworks from an “outperform” rating to a “sector perform” rating and set a $18.00 price target on the stock. in a research note on Friday, December 7th. They noted that the move was a valuation call. Finally, Morgan Stanley downgraded shares of Secureworks from an “overweight” rating to an “equal weight” rating and set a $17.00 target price on the stock. in a research report on Monday, December 10th.
A number of large investors have recently bought and sold shares of SCWX. Rhumbline Advisers acquired a new stake in Secureworks during the 2nd quarter worth approximately $142,000. Citadel Advisors LLC acquired a new stake in Secureworks during the 3rd quarter worth approximately $178,000. AXA acquired a new stake in Secureworks during the 3rd quarter worth approximately $193,000. Massachusetts Financial Services Co. MA acquired a new stake in Secureworks during the 3rd quarter worth approximately $331,000. Finally, Strs Ohio boosted its position in Secureworks by 213.2% during the 4th quarter. Strs Ohio now owns 21,300 shares of the technology company’s stock worth $359,000 after buying an additional 14,500 shares during the period. Institutional investors and hedge funds own 9.57% of the company’s stock.
Shares of SCWX traded up $0.48 during mid-day trading on Friday, reaching $16.93. The company had a trading volume of 212,719 shares, compared to its average volume of 245,035. Secureworks has a 1-year low of $7.83 and a 1-year high of $18.97. The company has a market cap of $1.35 billion, a P/E ratio of -37.62 and a beta of 0.50.
Secureworks (NASDAQ:SCWX) last posted its quarterly earnings results on Thursday, December 6th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.11. Secureworks had a negative net margin of 3.43% and a negative return on equity of 3.30%. The company had revenue of $133.06 million for the quarter, compared to the consensus estimate of $130.52 million. During the same period last year, the company posted ($0.06) EPS. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts predict that Secureworks will post -0.19 earnings per share for the current fiscal year.
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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