Zacks Investment Research lowered shares of SecureWorks (NASDAQ:SCWX) from a buy rating to a hold rating in a report published 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. “

Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of SecureWorks from a sell rating to a strong sell rating in a research note on Thursday, December 7th. J P Morgan Chase & Co downgraded shares of SecureWorks from an overweight rating to a neutral rating and set a $12.00 price objective for the company. in a research note on Wednesday, December 6th. KeyCorp reissued a buy rating and issued a $13.00 price objective on shares of SecureWorks in a research note on Thursday, December 7th. Barclays downgraded shares of SecureWorks from an equal weight rating to an underweight rating and set a $11.00 price objective for the company. in a research note on Friday, October 13th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $15.00 price objective (up previously from $13.00) on shares of SecureWorks in a research note on Tuesday, October 3rd. 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. SecureWorks presently has a consensus rating of Hold and an average target price of $12.95.

SecureWorks (NASDAQ:SCWX) opened at $10.08 on Wednesday. SecureWorks has a 1-year low of $8.10 and a 1-year high of $12.99.

SecureWorks (NASDAQ:SCWX) last announced 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. SecureWorks had a negative net margin of 9.60% and a negative return on equity of 3.95%. The firm had revenue of $117.53 million during the quarter, compared to the consensus estimate of $115.67 million. During the same quarter last year, the firm earned ($0.02) EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. analysts forecast that SecureWorks will post -0.43 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Gagnon Securities LLC purchased a new position in shares of SecureWorks during the third quarter worth approximately $5,109,000. King Luther Capital Management Corp increased its position in shares of SecureWorks by 354.3% during the third quarter. King Luther Capital Management Corp now owns 99,940 shares of the technology company’s stock worth $1,234,000 after acquiring an additional 77,940 shares during the period. Trexquant Investment LP purchased a new position in shares of SecureWorks during the third quarter worth approximately $175,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of SecureWorks during the third quarter worth approximately $158,000. Finally, SG Americas Securities LLC purchased a new position in shares of SecureWorks during the third quarter worth approximately $111,000. 7.96% of the stock is owned by institutional investors and hedge funds.

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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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