StockNews.com Upgrades SecureWorks (NASDAQ:SCWX) to Hold

SecureWorks (NASDAQ:SCWXGet Rating) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley dropped their price objective on shares of SecureWorks from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Friday, December 2nd. Barclays decreased their target price on shares of SecureWorks from $11.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, December 2nd. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $11.50.

SecureWorks Stock Up 1.8 %

SecureWorks stock opened at $7.35 on Friday. SecureWorks has a 52-week low of $5.28 and a 52-week high of $16.23. The firm has a fifty day moving average of $6.60 and a 200-day moving average of $8.28. The firm has a market capitalization of $622.18 million, a P/E ratio of -7.42 and a beta of 0.91.

SecureWorks (NASDAQ:SCWXGet Rating) last released its quarterly earnings data on Thursday, December 1st. The technology company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.09. SecureWorks had a negative net margin of 17.49% and a negative return on equity of 9.41%. The company had revenue of $110.94 million during the quarter, compared to analyst estimates of $111.98 million. On average, research analysts expect that SecureWorks will post -1.01 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Neil Gagnon bought 11,555 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was acquired at an average cost of $5.67 per share, for a total transaction of $65,516.85. Following the completion of the purchase, the insider now owns 26,099 shares of the company’s stock, valued at $147,981.33. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 85.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Gagnon Securities LLC boosted its stake in SecureWorks by 25.5% during the 2nd quarter. Gagnon Securities LLC now owns 1,033,446 shares of the technology company’s stock valued at $11,223,000 after acquiring an additional 209,770 shares during the last quarter. Vanguard Group Inc. boosted its stake in SecureWorks by 16.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,078,346 shares of the technology company’s stock valued at $8,681,000 after acquiring an additional 152,111 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in SecureWorks by 57.0% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 353,021 shares of the technology company’s stock valued at $3,834,000 after acquiring an additional 128,222 shares during the last quarter. Gagnon Advisors LLC boosted its stake in SecureWorks by 26.1% during the 2nd quarter. Gagnon Advisors LLC now owns 590,730 shares of the technology company’s stock valued at $6,415,000 after acquiring an additional 122,131 shares during the last quarter. Finally, Royce & Associates LP boosted its stake in SecureWorks by 13.7% during the 3rd quarter. Royce & Associates LP now owns 780,588 shares of the technology company’s stock valued at $6,284,000 after acquiring an additional 94,168 shares during the last quarter. 10.41% of the stock is currently owned by hedge funds and other institutional investors.

SecureWorks Company Profile

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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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