Brokerages forecast that Secureworks Corp (NASDAQ:SCWX) will announce $130.68 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Secureworks’ earnings. The lowest sales estimate is $130.48 million and the highest is $131.00 million. Secureworks posted sales of $117.53 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, December 5th.

On average, analysts expect that Secureworks will report full year sales of $519.46 million for the current year, with estimates ranging from $519.02 million to $520.00 million. For the next year, analysts forecast that the business will report sales of $567.48 million, with estimates ranging from $560.35 million to $575.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Secureworks.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings data on Wednesday, September 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Secureworks had a negative net margin of 5.13% and a negative return on equity of 4.67%. The firm had revenue of $128.80 million for the quarter, compared to the consensus estimate of $127.62 million. During the same quarter in the previous year, the firm earned ($0.07) EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year.

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Secureworks from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. BidaskClub raised shares of Secureworks from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. UBS Group downgraded shares of Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 price objective on the stock. in a research report on Friday, August 24th. Stifel Nicolaus lifted their price objective on shares of Secureworks from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research downgraded shares of Secureworks from a “buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $12.00.

Shares of Secureworks stock opened at $16.63 on Wednesday. Secureworks has a 52-week low of $7.83 and a 52-week high of $18.97. The company has a market capitalization of $1.50 billion, a PE ratio of -36.96 and a beta of 0.31.

A number of large investors have recently added to or reduced their stakes in SCWX. Royce & Associates LP purchased a new stake in Secureworks during the 2nd quarter worth approximately $5,808,000. Renaissance Technologies LLC grew its position in Secureworks by 60.4% during the 2nd quarter. Renaissance Technologies LLC now owns 387,000 shares of the technology company’s stock worth $4,818,000 after purchasing an additional 145,700 shares during the last quarter. Gagnon Advisors LLC grew its position in Secureworks by 50.6% during the 2nd quarter. Gagnon Advisors LLC now owns 350,335 shares of the technology company’s stock worth $4,362,000 after purchasing an additional 117,735 shares during the last quarter. Gagnon Securities LLC grew its position in Secureworks by 26.0% during the 2nd quarter. Gagnon Securities LLC now owns 524,963 shares of the technology company’s stock worth $6,536,000 after purchasing an additional 108,322 shares during the last quarter. Finally, BlackRock Inc. grew its position in Secureworks by 27.8% during the 2nd quarter. BlackRock Inc. now owns 425,529 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 92,683 shares during the last quarter. 8.76% of the stock is currently owned by institutional investors.

Secureworks Company Profile

SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations 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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