Secureworks Corp (SCWX) Given Consensus Recommendation of “Buy” by Analysts

Secureworks Corp (NASDAQ:SCWX) has received a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.36.

Several brokerages recently commented on SCWX. BidaskClub cut shares of Secureworks from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Zacks Investment Research cut shares of Secureworks from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Stifel Nicolaus boosted their price objective on shares of Secureworks from $10.50 to $11.50 and gave the company a “hold” rating in a research note on Thursday, September 6th. Morgan Stanley boosted their price objective on shares of Secureworks from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. Finally, UBS Group cut shares of Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a research note on Friday, August 24th.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Secureworks by 2.1% during the third quarter. Vanguard Group Inc. now owns 765,568 shares of the technology company’s stock valued at $11,216,000 after purchasing an additional 15,442 shares during the last quarter. Royce & Associates LP lifted its position in Secureworks by 49.0% during the third quarter. Royce & Associates LP now owns 694,948 shares of the technology company’s stock valued at $10,181,000 after purchasing an additional 228,475 shares during the last quarter. Legal & General Group Plc lifted its position in Secureworks by 66,527.0% during the third quarter. Legal & General Group Plc now owns 685,592 shares of the technology company’s stock valued at $10,044,000 after purchasing an additional 684,563 shares during the last quarter. Gagnon Securities LLC lifted its position in Secureworks by 8.2% during the third quarter. Gagnon Securities LLC now owns 568,056 shares of the technology company’s stock valued at $8,322,000 after purchasing an additional 43,093 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Secureworks by 27.8% during the second quarter. BlackRock Inc. now owns 425,529 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 92,683 shares during the last quarter. Institutional investors and hedge funds own 9.56% of the company’s stock.

NASDAQ:SCWX traded down $0.42 during mid-day trading on Thursday, hitting $17.58. 855,327 shares of the stock traded hands, compared to its average volume of 119,432. The stock has a market cap of $1.47 billion, a P/E ratio of -39.07 and a beta of 0.34. Secureworks has a 12-month low of $7.83 and a 12-month high of $18.97.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings data on Wednesday, September 5th. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $128.80 million during the quarter, compared to analysts’ expectations of $127.62 million. Secureworks had a negative net margin of 5.13% and a negative return on equity of 4.67%. Secureworks’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, equities analysts anticipate that Secureworks will post -0.34 earnings per share for the current year.

About Secureworks

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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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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