SecureWorks Corp. (SCWX) Rating Increased to Hold at Zacks Investment Research
SecureWorks Corp. (NASDAQ:SCWX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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 research firms also recently issued reports on SCWX. Royal Bank Of Canada reaffirmed a “buy” rating on shares of SecureWorks Corp. in a research note on Tuesday. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of SecureWorks Corp. in a research note on Thursday, October 12th. KeyCorp reaffirmed a “buy” rating and issued a $15.00 price objective on shares of SecureWorks Corp. in a research note on Friday, October 6th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $11.00 price objective (up previously from $10.00) on shares of SecureWorks Corp. in a research note on Thursday, September 7th. Finally, Barclays PLC cut SecureWorks Corp. from an “equal weight” rating to an “underweight” rating and set a $11.00 target price for the company. in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $13.67.
Shares of SecureWorks Corp. (NASDAQ:SCWX) traded up $0.01 on Wednesday, reaching $9.68. The company had a trading volume of 28,571 shares, compared to its average volume of 102,552. SecureWorks Corp. has a 52 week low of $8.25 and a 52 week high of $12.99.
SecureWorks Corp. (NASDAQ:SCWX) last issued its earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. SecureWorks Corp. had a negative return on equity of 3.32% and a negative net margin of 8.97%. The company had revenue of $116.27 million for the quarter, compared to the consensus estimate of $113.75 million. During the same quarter last year, the company earned ($0.07) EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. equities analysts forecast that SecureWorks Corp. will post -0.45 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in SecureWorks Corp. by 10.9% during the 2nd quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock valued at $8,078,000 after acquiring an additional 85,627 shares during the period. FMR LLC purchased a new position in SecureWorks Corp. during the 2nd quarter valued at $6,863,000. Horrell Capital Management Inc. boosted its holdings in SecureWorks Corp. by 46.4% during the 2nd quarter. Horrell Capital Management Inc. now owns 497,000 shares of the technology company’s stock valued at $4,617,000 after acquiring an additional 157,499 shares during the period. Bank of America Corp DE boosted its holdings in SecureWorks Corp. by 128.7% during the 1st quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock valued at $987,000 after acquiring an additional 58,478 shares during the period. Finally, State Street Corp boosted its holdings in SecureWorks Corp. by 13.6% during the 2nd quarter. State Street Corp now owns 78,624 shares of the technology company’s stock valued at $731,000 after acquiring an additional 9,417 shares during the period. Institutional investors own 7.55% of the company’s stock.
About SecureWorks Corp.
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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