SecureWorks Corp. (NASDAQ:SCWX) Given Average Rating of “Hold” by Brokerages

Shares of SecureWorks Corp. (NASDAQ:SCWXGet Rating) have been given an average recommendation of “Hold” by the eight brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $15.80.

A number of research analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of SecureWorks from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, June 3rd. JPMorgan Chase & Co. reduced their price objective on SecureWorks from $19.50 to $16.00 and set an “underweight” rating for the company in a research note on Friday, March 18th. The Goldman Sachs Group cut their price target on shares of SecureWorks from $14.00 to $12.00 and set a “sell” rating on the stock in a report on Monday, March 21st. Finally, StockNews.com assumed coverage on shares of SecureWorks in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

Shares of NASDAQ SCWX opened at $10.24 on Tuesday. The stock has a market capitalization of $868.97 million, a PE ratio of -15.52 and a beta of 1.00. The stock’s fifty day simple moving average is $11.21 and its two-hundred day simple moving average is $13.40. SecureWorks has a 12-month low of $9.26 and a 12-month high of $26.89.

SecureWorks (NASDAQ:SCWXGet Rating) last posted its quarterly earnings data on Thursday, June 2nd. The technology company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.06. SecureWorks had a negative net margin of 10.64% and a negative return on equity of 4.66%. The firm had revenue of $121.00 million during the quarter, compared to analyst estimates of $120.90 million. During the same quarter in the previous year, the business posted ($0.01) EPS. SecureWorks’s revenue was down 13.3% on a year-over-year basis. As a group, analysts forecast that SecureWorks will post -1.02 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of SecureWorks by 42.8% during the first quarter. Bank of America Corp DE now owns 52,050 shares of the technology company’s stock worth $690,000 after purchasing an additional 15,597 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in SecureWorks by 16.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 224,799 shares of the technology company’s stock worth $2,978,000 after acquiring an additional 32,343 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in SecureWorks during the 1st quarter valued at about $265,000. Gamco Investors INC. ET AL raised its holdings in SecureWorks by 30.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 21,650 shares of the technology company’s stock valued at $287,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of SecureWorks in the first quarter valued at approximately $221,000. Institutional investors 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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