Wall Street analysts expect Secureworks Corp (NASDAQ:SCWX) to announce $127.72 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Secureworks’ earnings, with the highest sales estimate coming in at $128.00 million and the lowest estimate coming in at $127.52 million. Secureworks posted sales of $116.12 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10%. The company is scheduled to report its next earnings results on Wednesday, September 5th.
According to Zacks, analysts expect that Secureworks will report full-year sales of $516.44 million for the current financial year, with estimates ranging from $514.00 million to $518.00 million. For the next fiscal year, analysts forecast that the business will report sales of $565.67 million per share, with estimates ranging from $558.00 million to $570.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Secureworks.
Secureworks (NASDAQ:SCWX) last issued its quarterly earnings data on Wednesday, June 6th. The technology company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01. The company had revenue of $126.16 million for the quarter, compared to analysts’ expectations of $122.48 million. Secureworks had a negative return on equity of 5.19% and a negative net margin of 5.76%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) earnings per share.
A number of research analysts have commented on the company. BidaskClub cut Secureworks from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. ValuEngine upgraded Secureworks from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. Citigroup boosted their price objective on Secureworks from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, June 7th. Stifel Nicolaus boosted their price objective on Secureworks from $9.00 to $10.50 and gave the stock a “hold” rating in a research note on Thursday, June 7th. Finally, Zacks Investment Research upgraded Secureworks from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Secureworks has an average rating of “Hold” and an average target price of $11.88.
Shares of Secureworks traded down $0.04, reaching $13.09, during midday trading on Tuesday, according to MarketBeat. 78,462 shares of the company were exchanged, compared to its average volume of 197,824. Secureworks has a 1-year low of $7.83 and a 1-year high of $15.88.
Several hedge funds and other institutional investors have recently made changes to their positions in SCWX. Rhumbline Advisers purchased a new stake in shares of Secureworks during the second quarter worth about $142,000. Schwab Charles Investment Management Inc. bought a new stake in Secureworks in the first quarter valued at about $158,000. Deutsche Bank AG increased its holdings in Secureworks by 156.9% in the fourth quarter. Deutsche Bank AG now owns 19,307 shares of the technology company’s stock valued at $171,000 after buying an additional 11,791 shares during the last quarter. Engineers Gate Manager LP bought a new stake in Secureworks in the second quarter valued at about $186,000. Finally, NJ State Employees Deferred Compensation Plan bought a new stake in Secureworks in the first quarter valued at about $259,000. 7.39% of the stock is currently owned by institutional investors and hedge funds.
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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