Secureworks Corp (NASDAQ:SCWX) has received an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.19.
SCWX has been the topic of several research reports. Morgan Stanley raised their price objective on Secureworks from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. BidaskClub raised Secureworks from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. Stifel Nicolaus raised their price objective on Secureworks from $10.50 to $11.50 and gave the company a “hold” rating in a research report on Thursday, September 6th. Finally, UBS Group lowered Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 price objective on the stock. in a research report on Friday, August 24th.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp increased its position in shares of Secureworks by 8.6% during the second quarter. Northern Trust Corp now owns 105,780 shares of the technology company’s stock worth $1,317,000 after acquiring an additional 8,353 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Secureworks by 34.4% during the second quarter. Bank of New York Mellon Corp now owns 44,119 shares of the technology company’s stock worth $550,000 after acquiring an additional 11,281 shares during the last quarter. Millennium Management LLC increased its position in shares of Secureworks by 160.0% during the second quarter. Millennium Management LLC now owns 50,713 shares of the technology company’s stock worth $631,000 after acquiring an additional 31,208 shares during the last quarter. King Luther Capital Management Corp increased its position in shares of Secureworks by 13.9% during the second quarter. King Luther Capital Management Corp now owns 41,000 shares of the technology company’s stock worth $510,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Secureworks by 60.4% during the second quarter. Renaissance Technologies LLC now owns 387,000 shares of the technology company’s stock worth $4,818,000 after acquiring an additional 145,700 shares during the last quarter. 8.83% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:SCWX traded up $0.43 during mid-day trading on Wednesday, hitting $12.56. The company had a trading volume of 116,045 shares, compared to its average volume of 108,740. Secureworks has a 1 year low of $7.83 and a 1 year high of $15.88. The firm has a market capitalization of $1.20 billion, a PE ratio of -27.91 and a beta of 1.28.
Secureworks (NASDAQ:SCWX) last released its quarterly earnings data on Wednesday, September 5th. The technology company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.04. Secureworks had a negative return on equity of 4.67% and a negative net margin of 5.13%. The company had revenue of $128.80 million for the quarter, compared to analyst estimates of $127.62 million. During the same period last year, the company posted ($0.07) earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, research analysts predict that Secureworks will post -0.34 EPS for the current fiscal year.
SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations 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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