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

Investment analysts at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the technology company’s stock.

Several other brokerages have also recently issued reports on SCWX. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd. Barclays upped their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, September 6th.

SecureWorks Trading Up 0.7 %

Shares of NASDAQ:SCWX opened at $8.44 on Monday. The company has a market cap of $749.73 million, a PE ratio of -9.93 and a beta of 1.00. The company’s 50 day moving average is $8.24 and its two-hundred day moving average is $7.48. SecureWorks has a 52 week low of $5.61 and a 52 week high of $9.76.

SecureWorks (NASDAQ:SCWX) last posted 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 during the quarter, compared to analyst estimates 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 expect that SecureWorks will post -0.29 EPS for the current year.

Hedge Funds Weigh In On SecureWorks

A number of institutional investors have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new stake in SecureWorks during the 2nd quarter valued at approximately $121,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of SecureWorks during the second quarter worth approximately $127,000. FMR LLC lifted 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 worth $192,000 after purchasing an additional 3,964 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings 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 purchasing an additional 19,735 shares during the period. Finally, State Street Corp grew its position in SecureWorks by 5.5% in the 3rd quarter. State Street Corp now owns 44,227 shares of the technology company’s stock valued at $391,000 after buying an additional 2,300 shares during the last quarter. 14.38% of the stock is 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.