First Analysis Upgrades SecureWorks (SCWX) to Overweight

SecureWorks (NASDAQ:SCWX) was upgraded by stock analysts at First Analysis from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Friday. The brokerage currently has a $12.00 price objective on the technology company’s stock. First Analysis’ price objective points to a potential upside of 26.45% from the stock’s previous close.

A number of other brokerages have also issued reports on SCWX. BidaskClub lowered shares of SecureWorks from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Stifel Nicolaus lowered shares of SecureWorks from a “buy” rating to a “hold” rating and cut their price target for the stock from $14.00 to $9.00 in a research note on Thursday, March 29th. ValuEngine lowered shares of SecureWorks from a “hold” rating to a “sell” rating in a research note on Thursday, March 29th. Zacks Investment Research lowered shares of SecureWorks from a “hold” rating to a “sell” rating in a research note on Wednesday, April 4th. Finally, Needham & Company LLC initiated coverage on shares of SecureWorks in a research note on Tuesday, January 16th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $11.50.

How to Become a New Pot Stock Millionaire

Shares of SCWX opened at $9.49 on Friday. The stock has a market capitalization of $736.77, a P/E ratio of -21.09 and a beta of 1.90. SecureWorks has a 12-month low of $7.83 and a 12-month high of $12.99.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings data on Wednesday, March 28th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The company had revenue of $120.65 million during the quarter, compared to analysts’ expectations of $117.71 million. SecureWorks had a negative net margin of 6.00% and a negative return on equity of 5.37%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) earnings per share. equities analysts predict that SecureWorks will post -0.33 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in shares of SecureWorks during the third quarter worth approximately $111,000. California State Teachers Retirement System increased its stake in shares of SecureWorks by 15.3% during the second quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after buying an additional 1,900 shares during the period. Deutsche Bank AG increased its stake in shares of SecureWorks by 156.9% during the fourth quarter. Deutsche Bank AG now owns 19,307 shares of the technology company’s stock worth $171,000 after buying an additional 11,791 shares during the period. Stone Ridge Asset Management LLC purchased a new stake in shares of SecureWorks during the fourth quarter worth approximately $199,000. Finally, Spark Investment Management LLC purchased a new stake in shares of SecureWorks during the fourth quarter worth approximately $236,000. Institutional investors own 7.60% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “First Analysis Upgrades SecureWorks (SCWX) to Overweight” was first posted by Macon Daily and is the property of of Macon Daily. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece of content can be viewed at https://macondaily.com/2018/04/13/secureworks-scwx-rating-increased-to-buy-at-first-analysis.html.

About SecureWorks

SecureWorks Corp. provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. Its 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.

Analyst Recommendations for SecureWorks (NASDAQ:SCWX)

Receive News & Ratings for SecureWorks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SecureWorks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply