SecureWorks (SCWX) Lifted to “Hold” at ValuEngine

ValuEngine upgraded shares of SecureWorks (NASDAQ:SCWX) from a sell rating to a hold rating in a research note released on Thursday morning.

SCWX has been the topic of a number of other research reports. BidaskClub lowered shares of SecureWorks from a hold rating to a sell rating in a research note on Friday, December 22nd. Needham & Company LLC started coverage on shares of SecureWorks in a research note on Tuesday, January 16th. They set a hold rating on the stock. Zacks Investment Research lowered shares of SecureWorks from a buy rating to a hold rating in a research note on Wednesday, December 13th. Finally, Stifel Nicolaus lowered shares of SecureWorks from a buy rating to a hold rating and cut their target price for the company from $14.00 to $9.00 in a research note on Thursday, March 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $11.50.

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Shares of SecureWorks stock opened at $9.96 on Thursday. The firm has a market capitalization of $776.02, a price-to-earnings ratio of -22.13 and a beta of 1.90. SecureWorks has a 12-month low of $7.83 and a 12-month high of $12.99.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Wednesday, March 28th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The company had revenue of $120.65 million for the quarter, compared to the consensus estimate of $117.71 million. SecureWorks had a negative net margin of 6.00% and a negative return on equity of 5.37%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. equities analysts expect that SecureWorks will post -0.33 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in SecureWorks during the 4th quarter valued at about $371,000. Masters Capital Management LLC lifted its position in SecureWorks by 8.1% during the 4th quarter. Masters Capital Management LLC now owns 1,000,000 shares of the technology company’s stock valued at $8,870,000 after acquiring an additional 75,000 shares during the period. Two Sigma Investments LP lifted its position in SecureWorks by 53.0% during the 4th quarter. Two Sigma Investments LP now owns 80,856 shares of the technology company’s stock valued at $717,000 after acquiring an additional 27,995 shares during the period. Stone Ridge Asset Management LLC purchased a new position in SecureWorks during the 4th quarter valued at about $199,000. Finally, Deutsche Bank AG lifted its position in SecureWorks by 156.9% during the 4th quarter. Deutsche Bank AG now owns 19,307 shares of the technology company’s stock valued at $171,000 after acquiring an additional 11,791 shares during the period. 7.60% of the stock is owned by institutional investors.

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SecureWorks Company Profile

SecureWorks Corp. provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. Its 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SecureWorks (NASDAQ:SCWX)

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