SecureWorks Corp. (SCWX) Receives $13.50 Average PT from Brokerages
SecureWorks Corp. (NASDAQ:SCWX) has been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $13.50.
Several brokerages have weighed in on SCWX. Zacks Investment Research cut shares of SecureWorks Corp. from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Barclays PLC cut shares of SecureWorks Corp. from an “equal weight” rating to an “underweight” rating and set a $11.00 target price for the company. in a research report on Friday, October 13th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of SecureWorks Corp. in a research report on Thursday, September 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $15.00 target price (up from $13.00) on shares of SecureWorks Corp. in a research report on Tuesday, October 3rd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $15.00 target price on shares of SecureWorks Corp. in a research report on Friday, October 6th.
Several institutional investors have recently modified their holdings of SCWX. SG Americas Securities LLC bought a new position in shares of SecureWorks Corp. in the 3rd quarter worth about $111,000. Teachers Advisors LLC increased its stake in shares of SecureWorks Corp. by 32.2% in the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after acquiring an additional 3,135 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of SecureWorks Corp. by 8.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,022 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of SecureWorks Corp. in the 1st quarter worth about $133,000. Finally, California State Teachers Retirement System increased its stake in shares of SecureWorks Corp. by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors own 7.14% of the company’s stock.
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Shares of SecureWorks Corp. (SCWX) traded down $0.10 on Friday, reaching $10.28. 34,686 shares of the company’s stock traded hands, compared to its average volume of 102,318. SecureWorks Corp. has a fifty-two week low of $8.25 and a fifty-two week high of $12.99.
SecureWorks Corp. (NASDAQ:SCWX) last announced its quarterly earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The business had revenue of $116.27 million during the quarter, compared to analysts’ expectations of $113.75 million. SecureWorks Corp. had a negative net margin of 8.97% and a negative return on equity of 3.32%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) EPS. equities research analysts expect that SecureWorks Corp. will post -0.45 earnings per share for the current fiscal year.
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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