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.
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.
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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.
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