SecureWorks (NASDAQ:SCWX) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a note issued to investors on Saturday. The firm set a “hold” rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. Barclays raised their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th.

SecureWorks Stock Performance

Shares of NASDAQ:SCWX opened at $8.37 on Friday. The business has a 50-day moving average price of $8.14 and a 200 day moving average price of $7.29. The company has a market capitalization of $743.51 million, a price-to-earnings ratio of -9.85 and a beta of 1.00. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76.

SecureWorks (NASDAQ:SCWX) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 21.23% and a negative return on equity of 4.94%. As a group, equities research analysts predict that SecureWorks will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SecureWorks

Hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in shares of SecureWorks during the 2nd quarter valued at approximately $121,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of SecureWorks during the 2nd quarter worth approximately $127,000. FMR LLC increased its stake in shares of SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after purchasing an additional 3,964 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after purchasing an additional 19,735 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after acquiring an additional 5,205 shares during the period. 14.38% of the stock is currently owned by institutional investors and hedge funds.

SecureWorks Company Profile

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.