StockNews.com Begins Coverage on SecureWorks (NASDAQ:SCWX)

Equities research analysts at StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report issued to clients and investors on Saturday. The firm set a “hold” rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on the company. Barclays lifted their price target on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

SecureWorks Price Performance

NASDAQ:SCWX opened at $8.37 on Friday. The business’s 50-day moving average price is $8.14 and its 200 day moving average price is $7.31. SecureWorks has a 52-week low of $5.61 and a 52-week high of $9.76. The firm has a market cap of $743.51 million, a P/E ratio of -9.85 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The business had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. Sell-side analysts expect that SecureWorks will post -0.29 EPS for the current year.

Institutional Investors Weigh In On SecureWorks

Several large investors have recently made changes to their positions in SCWX. Squarepoint Ops LLC acquired a new stake in shares of SecureWorks in the 2nd quarter valued at $121,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of SecureWorks in the second quarter worth about $127,000. FMR LLC boosted its stake in shares of SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after acquiring an additional 3,964 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after acquiring an additional 19,735 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after acquiring an additional 5,205 shares in the last quarter. Institutional investors own 14.38% of the company’s stock.

SecureWorks Company Profile

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.