Secureworks (NASDAQ:SCWX) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Secureworks (NASDAQ:SCWX) from a buy rating to a hold rating in a research note released on Saturday, ValuEngine reports.

SCWX has been the topic of several other reports. Morgan Stanley set a $14.00 target price on shares of Secureworks and gave the stock a hold rating in a research note on Thursday, June 6th. BidaskClub raised shares of Secureworks from a sell rating to a hold rating in a research note on Wednesday, September 11th. Zacks Investment Research raised shares of Secureworks from a hold rating to a buy rating and set a $16.00 target price on the stock in a research note on Thursday, September 12th. Barclays reissued a sell rating and set a $13.00 target price on shares of Secureworks in a research note on Thursday, June 6th. Finally, TheStreet lowered shares of Secureworks from a c- rating to a d+ rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $15.08.

NASDAQ:SCWX opened at $12.69 on Friday. The firm’s fifty day moving average is $12.11 and its two-hundred day moving average is $15.36. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.07. Secureworks has a one year low of $10.37 and a one year high of $24.91. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -79.31 and a beta of 1.11.

Secureworks (NASDAQ:SCWX) last posted its earnings results on Thursday, September 5th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.09. Secureworks had a negative net margin of 6.38% and a negative return on equity of 1.61%. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $133.02 million. During the same period in the prior year, the company posted ($0.01) EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that Secureworks will post -0.3 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ETF Managers Group LLC raised its position in shares of Secureworks by 51.2% during the 2nd quarter. ETF Managers Group LLC now owns 988,476 shares of the technology company’s stock worth $13,196,000 after purchasing an additional 334,525 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Secureworks by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 651,979 shares of the technology company’s stock worth $8,665,000 after purchasing an additional 4,384 shares during the last quarter. BlackRock Inc. raised its position in shares of Secureworks by 5.8% during the 2nd quarter. BlackRock Inc. now owns 628,892 shares of the technology company’s stock worth $8,359,000 after purchasing an additional 34,404 shares during the last quarter. Spark Investment Management LLC raised its position in shares of Secureworks by 147.5% during the 1st quarter. Spark Investment Management LLC now owns 201,900 shares of the technology company’s stock worth $3,714,000 after purchasing an additional 120,335 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Secureworks by 15.1% during the 2nd quarter. Wells Fargo & Company MN now owns 199,566 shares of the technology company’s stock worth $2,652,000 after purchasing an additional 26,251 shares during the last quarter. Hedge funds and other institutional investors own 10.65% of the company’s stock.

Secureworks Company Profile

SecureWorks Corp., a cybersecurity company, provides an integrated suite of intelligence-driven information security solutions focused on protecting organizations worldwide. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response.

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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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