Equities analysts expect Secureworks Corp (NASDAQ:SCWX) to post $132.73 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Secureworks’ earnings, with the highest sales estimate coming in at $133.00 million and the lowest estimate coming in at $132.53 million. Secureworks reported sales of $120.65 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, March 27th.

According to Zacks, analysts expect that Secureworks will report full year sales of $520.69 million for the current year, with estimates ranging from $520.51 million to $521.00 million. For the next financial year, analysts expect that the firm will post sales of $569.55 million, with estimates ranging from $566.90 million to $572.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Secureworks.

A number of equities research analysts have weighed in on the stock. BidaskClub upgraded shares of Secureworks from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 4th. Bank of America reiterated an “underperform” rating and set a $12.50 price target (up from $10.50) on shares of Secureworks in a research report on Tuesday, February 5th. Zacks Investment Research cut shares of Secureworks from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Barclays reiterated a “sell” rating and set a $15.00 price target on shares of Secureworks in a research report on Friday, December 7th. Finally, Royal Bank of Canada cut shares of Secureworks from an “outperform” rating to a “sector perform” rating and set a $18.00 price target for the company. in a research report on Friday, December 7th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Secureworks currently has a consensus rating of “Hold” and an average target price of $15.44.

Shares of SCWX opened at $19.06 on Monday. Secureworks has a 1-year low of $7.83 and a 1-year high of $24.91. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -42.36 and a beta of 1.10.

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in shares of Secureworks by 13.0% in the fourth quarter. Geode Capital Management LLC now owns 116,506 shares of the technology company’s stock valued at $1,966,000 after purchasing an additional 13,434 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Secureworks in the fourth quarter valued at approximately $292,000. Millennium Management LLC grew its holdings in shares of Secureworks by 1.6% in the fourth quarter. Millennium Management LLC now owns 61,730 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 952 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Secureworks by 24.7% in the fourth quarter. Legal & General Group Plc now owns 855,078 shares of the technology company’s stock valued at $14,442,000 after purchasing an additional 169,486 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Secureworks in the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 10.77% of the company’s stock.

Secureworks Company Profile

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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