StockNews.com Initiates Coverage on SecureWorks (NASDAQ:SCWX)

Research analysts at StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other equities analysts also recently weighed in on SCWX. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd. Barclays boosted their price target on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th.

SecureWorks Price Performance

NASDAQ SCWX opened at $8.38 on Thursday. The company has a fifty day moving average price of $7.98 and a 200-day moving average price of $7.09. The firm has a market cap of $740.82 million, a price-to-earnings ratio of -7.91 and a beta of 0.99. SecureWorks has a 1 year low of $5.45 and a 1 year high of $9.76.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $82.18 million during the quarter, compared to analysts’ expectations of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. On average, research analysts anticipate that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On SecureWorks

Several institutional investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its holdings in SecureWorks by 1.5% during the first quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock valued at $5,992,000 after purchasing an additional 13,551 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after purchasing an additional 16,327 shares during the last quarter. Scalar Gauge Management LLC lifted its holdings in SecureWorks by 18.8% during the second quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock valued at $2,213,000 after purchasing an additional 50,000 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in SecureWorks by 22.3% during the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after purchasing an additional 33,100 shares during the last quarter. Finally, Brooktree Capital Management lifted its holdings in shares of SecureWorks by 1.1% in the first quarter. Brooktree Capital Management now owns 163,910 shares of the technology company’s stock worth $1,101,000 after buying an additional 1,775 shares in the last quarter. 14.38% of the stock is owned by hedge funds and other institutional investors.

About SecureWorks

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.