Secureworks (SCWX) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Secureworks (NASDAQ:SCWX) from a sell rating to a hold rating in a research note published on Saturday, Zacks.com reports.

According to Zacks, “SecureWorks Corp. offers intelligence-driven information security solutions focused on protecting from cyber-attacks. The Company’s solutions enable organizations to fortify their cyber defenses to prevent security breaches; detect malicious activity in real time; prioritize and respond rapidly to security breaches and predict emerging threats. Its integrated suite of solutions include managed security, threat intelligence, security and risk consulting as well as incident response. SecureWorks Corp. is based in Atlanta, Georgia. “

SCWX has been the subject of several other research reports. BidaskClub upgraded shares of Secureworks from a buy rating to a strong-buy rating in a research note on Monday, February 4th. Bank of America reiterated an underperform rating and set a $12.50 price objective (up previously from $10.50) on shares of Secureworks in a research note on Tuesday, February 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $15.44.

NASDAQ SCWX opened at $18.80 on Friday. The company has a market cap of $1.53 billion, a P/E ratio of -117.50 and a beta of 1.05. Secureworks has a 52 week low of $10.12 and a 52 week high of $24.91.

Secureworks (NASDAQ:SCWX) last posted its quarterly earnings data on Wednesday, March 27th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.06. The firm had revenue of $130.70 million during the quarter, compared to analyst estimates of $132.62 million. Secureworks had a negative net margin of 7.54% and a negative return on equity of 1.85%. Secureworks’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) EPS. On average, analysts forecast that Secureworks will post -0.29 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC increased its stake in Secureworks by 1.6% during the 4th quarter. Millennium Management LLC now owns 61,730 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 952 shares in the last quarter. Northern Trust Corp increased its stake in Secureworks by 1.3% during the 4th quarter. Northern Trust Corp now owns 109,390 shares of the technology company’s stock valued at $1,848,000 after purchasing an additional 1,394 shares in the last quarter. Acadian Asset Management LLC increased its stake in Secureworks by 59.7% during the 4th quarter. Acadian Asset Management LLC now owns 5,771 shares of the technology company’s stock valued at $97,000 after purchasing an additional 2,157 shares in the last quarter. Rhumbline Advisers increased its stake in Secureworks by 35.3% during the 4th quarter. Rhumbline Advisers now owns 15,481 shares of the technology company’s stock valued at $261,000 after purchasing an additional 4,042 shares in the last quarter. Finally, Sun Life Financial INC increased its stake in Secureworks by 136.2% during the 4th quarter. Sun Life Financial INC now owns 7,774 shares of the technology company’s stock valued at $131,000 after purchasing an additional 4,483 shares in the last quarter. Institutional investors and hedge funds own 10.83% of the company’s stock.

About Secureworks

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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