SecureWorks Corp.’s (SCWX) Lock-Up Period Will End on October 19th
SecureWorks Corp.’s (NASDAQ:SCWX) lock-up period is set to end on Wednesday, October 19th. SecureWorks Corp. had issued 8,000,000 shares in its IPO on April 22nd. The total size of the offering was $112,000,000 based on an initial share price of $14.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
Several equities analysts recently commented on SCWX shares. Zacks Investment Research cut SecureWorks Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Citigroup Inc. boosted their target price on SecureWorks Corp. from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, September 8th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $16.83.
Shares of SecureWorks Corp. (NASDAQ:SCWX) opened at 12.54 on Wednesday. The stock’s market capitalization is $1.01 billion. The company’s 50-day moving average price is $13.20 and its 200 day moving average price is $13.73. SecureWorks Corp. has a one year low of $11.85 and a one year high of $16.23.
SecureWorks Corp. (NASDAQ:SCWX) last announced its earnings results on Tuesday, September 6th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.01. The company earned $103.90 million during the quarter. The company’s revenue was up 29.1% compared to the same quarter last year. Analysts anticipate that SecureWorks Corp. will post ($0.31) EPS for the current year.
A number of institutional investors have recently made changes to their positions in the company. BlackRock Investment Management LLC bought a new position in shares of SecureWorks Corp. during the second quarter worth approximately $317,000. Vanguard Group Inc. bought a new position in shares of SecureWorks Corp. during the second quarter worth approximately $8,047,000. Principal Financial Group Inc. bought a new position in shares of SecureWorks Corp. during the second quarter worth approximately $3,614,000. Eaton Vance Management bought a new position in shares of SecureWorks Corp. during the second quarter worth approximately $1,799,000. Finally, Penserra Capital Management LLC bought a new position in shares of SecureWorks Corp. during the second quarter worth approximately $4,676,000. 76.45% of the stock is currently owned by institutional investors.
SecureWorks Corp. Company Profile
Secureworks Corp. is a provider of intelligence-driven information security solutions focused on protecting its clients from cyber-attacks. The Company’s solutions enable organizations to fortify their cyber defenses to prevent security breaches; detect malicious activity in real time; prioritize and respond rapidly to security breaches, and predict emerging threats.
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