SecureWorks (NASDAQ:SCWX) Coverage Initiated by Analysts at StockNews.com

by · The Cerbat Gem

StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX – Free Report) in a report issued on Thursday. The firm issued a hold rating on the technology company’s stock.

A number of other brokerages have also weighed in on SCWX. Barclays lifted their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

Check Out Our Latest Stock Report on SCWX

SecureWorks Price Performance

Shares of NASDAQ:SCWX opened at $8.37 on Thursday. The firm has a market capitalization of $743.51 million, a PE ratio of -9.85 and a beta of 0.99. The business has a 50 day simple moving average of $8.03 and a two-hundred day simple moving average of $7.11. SecureWorks has a 1 year low of $5.45 and a 1 year high of $9.76.

SecureWorks (NASDAQ:SCWX – Get Free Report) last posted its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $82.18 million for the quarter, compared to analysts’ expectations of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. Equities research analysts expect that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooktree Capital Management lifted its position in shares of SecureWorks by 1.1% in the 1st quarter. Brooktree Capital Management now owns 163,910 shares of the technology company’s stock worth $1,101,000 after purchasing an additional 1,775 shares during the period. Marshall Wace LLP boosted its position in SecureWorks by 11.6% during the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after acquiring an additional 5,205 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of SecureWorks by 1.5% in the 1st quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock valued at $5,992,000 after acquiring an additional 13,551 shares during the period. Dimensional Fund Advisors LP raised its position in shares of SecureWorks by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after acquiring an additional 16,327 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of SecureWorks during the 2nd quarter worth $121,000. 14.38% of the stock is currently owned by institutional investors.

About SecureWorks

(Get Free Report)

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.

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