SecureWorks Corp.’s (SCWX) Outperform Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada restated their outperform rating on shares of SecureWorks Corp. (NASDAQ:SCWX) in a research note published on Tuesday morning, Marketbeat reports. Royal Bank Of Canada currently has a $15.00 target price on the technology company’s stock, up from their prior target price of $13.00.
Several other equities research analysts have also commented on SCWX. UBS AG restated a neutral rating and set a $11.00 price target (down from $12.00) on shares of SecureWorks Corp. in a research note on Friday, June 9th. Zacks Investment Research upgraded SecureWorks Corp. from a sell rating to a hold rating in a research note on Wednesday, August 9th. Citigroup Inc. restated a neutral rating and set a $11.00 price target (up from $10.00) on shares of SecureWorks Corp. in a research note on Thursday, September 7th. Finally, Barclays PLC restated a hold rating and set a $11.00 price target on shares of SecureWorks Corp. in a research note on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. SecureWorks Corp. presently has a consensus rating of Hold and a consensus price target of $13.56.
Shares of SecureWorks Corp. (NASDAQ:SCWX) traded up 1.22% during mid-day trading on Tuesday, hitting $12.49. The company had a trading volume of 76,252 shares. The company’s market cap is $1.01 billion. The firm has a 50-day moving average of $12.18 and a 200-day moving average of $12.18. SecureWorks Corp. has a 12 month low of $10.15 and a 12 month high of $12.99.
SecureWorks Corp. (NASDAQ:SCWX) last announced its quarterly earnings results on Wednesday, September 6th. The technology company reported ($0.07) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The company had revenue of $116.27 million during the quarter, compared to analyst estimates of $113.75 million. SecureWorks Corp. had a negative return on equity of 3.32% and a negative net margin of 8.97%. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) earnings per share. On average, analysts expect that SecureWorks Corp. will post ($0.30) EPS for the current year.
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Large investors have recently made changes to their positions in the business. Teachers Advisors LLC grew its stake in shares of SecureWorks Corp. by 32.2% in the second quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock valued at $120,000 after buying an additional 3,135 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of SecureWorks Corp. by 8.0% in the second quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock valued at $129,000 after buying an additional 1,022 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of SecureWorks Corp. in the first quarter valued at about $133,000. California State Teachers Retirement System grew its stake in shares of SecureWorks Corp. by 15.3% in the second quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock valued at $133,000 after buying an additional 1,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of SecureWorks Corp. in the first quarter valued at about $147,000. Institutional investors own 7.66% of the company’s stock.
SecureWorks Corp. Company Profile
Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.
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