SecureWorks (NASDAQ:SCWX) Earns Hold Rating from Analysts at StockNews.com

Analysts at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report issued on Sunday. The firm set a “hold” rating on the technology company’s stock.

SCWX has been the topic of a number of other reports. Barclays increased their price target on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Stock Up 0.4 %

SCWX opened at $8.39 on Friday. SecureWorks has a twelve month low of $5.61 and a twelve month high of $9.76. The company has a fifty day moving average of $8.19 and a 200-day moving average of $7.39. The stock has a market cap of $745.28 million, a PE ratio of -9.87 and a beta of 1.00.

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 business had revenue of $82.18 million for the quarter, compared to analyst estimates of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. Sell-side analysts anticipate that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On SecureWorks

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in shares of SecureWorks in the 2nd quarter worth $121,000. Jaffetilchin Investment Partners LLC bought a new position in shares of SecureWorks in the second quarter valued at $127,000. FMR LLC grew its holdings in shares of SecureWorks by 22.3% during the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after buying an additional 3,964 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of SecureWorks by 107.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after acquiring an additional 19,735 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock worth $391,000 after acquiring an additional 2,300 shares during the last quarter. Institutional investors and hedge funds own 14.38% of the company’s stock.

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.