SecureWorks (SCWX) Downgraded by BidaskClub
BidaskClub cut shares of SecureWorks (NASDAQ:SCWX) from a sell rating to a strong sell rating in a research note released on Thursday morning.
Other equities analysts have also recently issued research reports about the stock. KeyCorp reissued a buy rating and set a $15.00 price objective on shares of SecureWorks in a research report on Sunday, November 19th. Royal Bank Of Canada reissued a buy rating on shares of SecureWorks in a research report on Tuesday, November 7th. J P Morgan Chase & Co reissued a buy rating on shares of SecureWorks in a research report on Thursday, October 12th. Zacks Investment Research raised shares of SecureWorks from a sell rating to a hold rating in a research report on Wednesday, August 9th. Finally, Citigroup reissued a neutral rating and set a $11.00 price objective (up previously from $10.00) on shares of SecureWorks in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $13.30.
Shares of SecureWorks (NASDAQ:SCWX) traded up $0.25 on Thursday, reaching $8.52. 92,701 shares of the company’s stock were exchanged, compared to its average volume of 94,311. SecureWorks has a twelve month low of $8.10 and a twelve month high of $12.99.
SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, December 6th. The technology company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. The business had revenue of $117.53 million for the quarter, compared to analysts’ expectations of $115.67 million. SecureWorks had a negative net margin of 9.60% and a negative return on equity of 3.95%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. equities research analysts expect that SecureWorks will post -0.39 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in SCWX. SG Americas Securities LLC bought a new position in SecureWorks in the 3rd quarter valued at about $111,000. Teachers Advisors LLC lifted its position in SecureWorks by 32.2% in the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock valued at $120,000 after acquiring an additional 3,135 shares in the last quarter. JPMorgan Chase & Co. lifted its position in SecureWorks by 8.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock valued at $129,000 after acquiring an additional 1,022 shares in the last quarter. California State Teachers Retirement System lifted its position in SecureWorks by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock valued at $133,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in SecureWorks in the 1st quarter valued at about $133,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.
SecureWorks 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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