Secureworks’ (SCWX) “Sell” Rating Reaffirmed at Barclays

Barclays restated their sell rating on shares of Secureworks (NASDAQ:SCWX) in a report released on Friday. Barclays currently has a $15.00 price target on the technology company’s stock.

Several other research analysts have also commented on SCWX. UBS Group lowered shares of Secureworks from a neutral rating to a sell rating and set a $11.00 price target for the company. in a report on Friday, August 24th. Morgan Stanley lifted their price target on shares of Secureworks from $14.00 to $15.00 and gave the company a buy rating in a report on Thursday, September 6th. Stifel Nicolaus lifted their price target on shares of Secureworks from $10.50 to $11.50 and gave the company a hold rating in a report on Thursday, September 6th. BidaskClub raised shares of Secureworks from a hold rating to a buy rating in a report on Thursday, September 27th. Finally, Zacks Investment Research lowered shares of Secureworks from a buy rating to a hold rating in a report on Wednesday, November 7th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $13.33.

SCWX stock traded down $1.46 during mid-day trading on Friday, hitting $15.64. 398,159 shares of the company were exchanged, compared to its average volume of 187,705. Secureworks has a twelve month low of $7.83 and a twelve month high of $18.97.

Secureworks (NASDAQ:SCWX) last announced its quarterly earnings data on Thursday, December 6th. The technology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.11. The company had revenue of $133.06 million during the quarter, compared to analyst estimates of $130.52 million. Secureworks had a negative net margin of 3.43% and a negative return on equity of 3.31%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the business earned ($0.06) EPS. Equities analysts forecast that Secureworks will post -0.34 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Secureworks by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 765,568 shares of the technology company’s stock valued at $11,216,000 after buying an additional 15,442 shares during the period. Legal & General Group Plc boosted its stake in Secureworks by 66,527.0% during the 3rd 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 period. Dynamic Technology Lab Private Ltd acquired a new position in Secureworks during the 3rd quarter valued at about $500,000. Renaissance Technologies LLC boosted its stake in Secureworks by 7.8% during the 3rd quarter. Renaissance Technologies LLC now owns 417,300 shares of the technology company’s stock valued at $6,113,000 after purchasing an additional 30,300 shares during the period. Finally, Gagnon Securities LLC boosted its stake in Secureworks by 8.2% during the 3rd 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 period. 9.56% of the stock is owned by institutional investors and hedge funds.

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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