SecureWorks (SCWX) Upgraded at Zacks Investment Research
SecureWorks (NASDAQ:SCWX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $9.50 price target on the technology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.20% from the company’s current price.
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. “
Several other research firms have also issued reports on SCWX. KeyCorp reiterated a “buy” rating and issued a $15.00 target price on shares of SecureWorks in a research note on Friday, October 6th. J P Morgan Chase & Co reiterated a “buy” rating on shares of SecureWorks in a research note on Thursday, October 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $15.00 target price (up previously from $13.00) on shares of SecureWorks in a research note on Tuesday, October 3rd. Barclays lowered shares of SecureWorks from an “equal weight” rating to an “underweight” rating and set a $11.00 target price for the company. in a research note on Friday, October 13th. Finally, Citigroup reiterated a “neutral” rating and issued a $11.00 target price (up previously from $10.00) on shares of SecureWorks in a research note on Thursday, September 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $12.95.
SecureWorks (NASDAQ:SCWX) last posted its earnings results on Wednesday, December 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $115.67 million. During the same quarter in the prior year, the business posted ($0.02) EPS. The business’s revenue was up 9.7% compared to the same quarter last year. research analysts anticipate that SecureWorks will post -0.39 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in SecureWorks by 10.9% during the second quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock valued at $8,078,000 after buying an additional 85,627 shares during the period. FMR LLC bought a new position in SecureWorks during the second quarter valued at about $6,863,000. Gagnon Securities LLC bought a new position in SecureWorks during the third quarter valued at about $5,109,000. Bank of America Corp DE grew its position in SecureWorks by 128.7% during the first quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock valued at $987,000 after buying an additional 58,478 shares during the period. Finally, King Luther Capital Management Corp grew its position in SecureWorks by 354.3% during the third quarter. King Luther Capital Management Corp now owns 99,940 shares of the technology company’s stock valued at $1,234,000 after buying an additional 77,940 shares during the period. Institutional investors own 7.96% of the company’s stock.
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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