SecureWorks (NASDAQ:SCWX) Updates FY23 Earnings Guidance

SecureWorks (NASDAQ:SCWXGet Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($0.70)-($0.61) for the period, compared to the consensus estimate of ($0.67). The company issued revenue guidance of $475-490 million, compared to the consensus revenue estimate of $481.98 million.SecureWorks also updated its FY 2023 guidance to -$0.70–$0.61 EPS.

Several equities research analysts have recently weighed in on SCWX shares. The Goldman Sachs Group decreased their target price on shares of SecureWorks from $14.00 to $12.00 and set a sell rating for the company in a research note on Monday, March 21st. Zacks Investment Research cut shares of SecureWorks from a hold rating to a sell rating in a research note on Thursday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of SecureWorks from $19.50 to $16.00 and set an underweight rating on the stock in a report on Friday, March 18th. StockNews.com started coverage on shares of SecureWorks in a research report on Thursday, March 31st. They set a hold rating for the company. Finally, Morgan Stanley cut their target price on shares of SecureWorks from $16.00 to $14.00 and set an equal weight rating for the company in a research note on Monday, March 21st. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $17.17.

SCWX traded up $0.98 on Thursday, hitting $12.61. 502 shares of the stock were exchanged, compared to its average volume of 88,250. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -24.23 and a beta of 1.00. SecureWorks has a 12 month low of $9.93 and a 12 month high of $26.89. The business has a 50-day moving average of $11.82 and a two-hundred day moving average of $14.14.

SecureWorks (NASDAQ:SCWXGet Rating) last issued its earnings results on Thursday, March 17th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.13. SecureWorks had a negative return on equity of 2.38% and a negative net margin of 7.43%. The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.85 million. During the same period last year, the business earned ($0.06) EPS. SecureWorks’s quarterly revenue was down 8.4% compared to the same quarter last year. On average, equities analysts expect that SecureWorks will post -0.98 earnings per share for the current year.

In other SecureWorks news, CEO Wendy Thomas bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 21st. The stock was purchased at an average price of $11.89 per share, for a total transaction of $35,670.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider George B. Hanna purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The shares were purchased at an average cost of $11.27 per share, with a total value of $45,080.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 14,000 shares of company stock valued at $158,100. Corporate insiders own 85.30% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new position in shares of SecureWorks in the 1st quarter valued at about $145,000. Delphia USA Inc. acquired a new position in SecureWorks in the first quarter valued at approximately $148,000. Barclays PLC lifted its holdings in SecureWorks by 197.0% in the fourth quarter. Barclays PLC now owns 12,116 shares of the technology company’s stock valued at $194,000 after acquiring an additional 8,037 shares during the last quarter. Jane Street Group LLC acquired a new position in SecureWorks during the first quarter worth $221,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of SecureWorks in the first quarter valued at $265,000. Institutional investors and hedge funds own 11.87% of the company’s stock.

SecureWorks Company Profile (Get Rating)

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 security risk consulting services.

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