SecureWorks Corp. (SCWX) Receives “Outperform” Rating from Royal Bank Of Canada
SecureWorks Corp. (NASDAQ:SCWX)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They currently have a $15.00 price objective on the technology company’s stock, up from their previous price objective of $13.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 22.55% from the stock’s previous close.
Several other research analysts also recently commented on SCWX. UBS AG reissued a “neutral” rating and issued a $11.00 price target (down from $12.00) on shares of SecureWorks Corp. in a report on Friday, June 9th. Zacks Investment Research raised shares of SecureWorks Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $11.00 price target (up previously from $10.00) on shares of SecureWorks Corp. in a report on Thursday, September 7th. Finally, Barclays PLC reiterated a “hold” rating and issued a $11.00 price objective on shares of SecureWorks Corp. in a research report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $13.50.
SecureWorks Corp. (NASDAQ:SCWX) traded down 0.41% during midday trading on Tuesday, reaching $12.24. The company’s stock had a trading volume of 100,527 shares. The company’s market cap is $992.35 million. The stock has a 50-day moving average price of $12.17 and a 200 day moving average price of $12.17. SecureWorks Corp. has a 12 month low of $10.15 and a 12 month high of $12.99.
SecureWorks Corp. (NASDAQ:SCWX) last posted its earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. SecureWorks Corp. had a negative net margin of 8.97% and a negative return on equity of 3.32%. The business had revenue of $116.27 million for the quarter, compared to analyst estimates of $113.75 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. SecureWorks Corp.’s revenue was up 11.9% on a year-over-year basis. Analysts expect that SecureWorks Corp. will post ($0.30) earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Teachers Advisors LLC increased its holdings in shares of SecureWorks Corp. by 32.2% in the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after buying an additional 3,135 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of SecureWorks Corp. by 8.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock valued at $129,000 after buying an additional 1,022 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of SecureWorks Corp. during the 1st quarter valued at $133,000. California State Teachers Retirement System raised its position in shares of SecureWorks Corp. by 15.3% during the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock valued at $133,000 after buying an additional 1,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of SecureWorks Corp. during the 1st quarter valued at $147,000. 7.66% of the stock is owned by institutional investors and hedge funds.
SecureWorks Corp. Company Profile
Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies 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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