SecureWorks Corp. (NASDAQ:SCWX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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. “

A number of other analysts have also commented on SCWX. Citigroup Inc. increased their price objective on SecureWorks Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, September 8th. Pacific Crest reaffirmed a “buy” rating on shares of SecureWorks Corp. in a research note on Sunday, May 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. SecureWorks Corp. currently has an average rating of “Buy” and an average target price of $16.83.

Shares of SecureWorks Corp. (NASDAQ:SCWX) opened at 12.72 on Thursday. SecureWorks Corp. has a 52 week low of $11.96 and a 52 week high of $16.23. The firm’s 50-day moving average is $14.25 and its 200-day moving average is $13.96. The stock’s market capitalization is $1.03 billion.

SecureWorks Corp. (NASDAQ:SCWX) last posted its earnings results on Tuesday, September 6th. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The firm earned $103.90 million during the quarter. The company’s revenue for the quarter was up 29.1% on a year-over-year basis. On average, equities research analysts anticipate that SecureWorks Corp. will post ($0.31) EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in SecureWorks Corp. during the second quarter worth approximately $14,828,000. Masters Capital Management LLC purchased a new position in SecureWorks Corp. during the second quarter worth approximately $10,899,000. Vanguard Group Inc. purchased a new position in SecureWorks Corp. during the second quarter worth approximately $8,047,000. Penserra Capital Management LLC purchased a new position in SecureWorks Corp. during the second quarter worth approximately $4,676,000. Finally, Waddell & Reed Financial Inc. purchased a new position in SecureWorks Corp. during the second quarter worth approximately $4,522,000. 76.45% of the stock is currently owned by hedge funds and other institutional investors.

SecureWorks Corp. Company Profile

Secureworks Corp. is a provider of intelligence-driven information security solutions focused on protecting its clients 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.

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