Secureworks Corp (SCWX) Given Consensus Rating of “Buy” by Brokerages

Secureworks Corp (NASDAQ:SCWX) has earned a consensus rating of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $12.36.

Several research firms have recently commented on SCWX. Morgan Stanley upped their target price on Secureworks from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. BidaskClub raised Secureworks from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. UBS Group downgraded Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 target price on the stock. in a research report on Friday, August 24th. Stifel Nicolaus upped their target price on Secureworks from $10.50 to $11.50 and gave the company a “hold” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research downgraded Secureworks from a “buy” rating to a “hold” rating in a research report on Wednesday.

NASDAQ SCWX traded down $1.44 during trading on Friday, reaching $16.63. 147,912 shares of the company’s stock were exchanged, compared to its average volume of 114,258. The company has a market cap of $1.33 billion, a PE ratio of -36.96 and a beta of 0.31. Secureworks has a fifty-two week low of $7.83 and a fifty-two week high of $18.97.

Secureworks (NASDAQ:SCWX) last announced its quarterly earnings results on Wednesday, September 5th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. The firm had revenue of $128.80 million for the quarter, compared to the consensus estimate of $127.62 million. Secureworks had a negative return on equity of 4.67% and a negative net margin of 5.13%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Equities analysts forecast that Secureworks will post -0.34 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Rhumbline Advisers bought a new position in shares of Secureworks in the 2nd quarter valued at $142,000. Schwab Charles Investment Management Inc. bought a new position in shares of Secureworks in the 1st quarter valued at $158,000. Engineers Gate Manager LP bought a new position in shares of Secureworks in the 2nd quarter valued at $186,000. AXA bought a new position in shares of Secureworks in the 3rd quarter valued at $193,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Secureworks in the 3rd quarter valued at $331,000. Institutional investors and hedge funds own 8.76% of the company’s stock.

About Secureworks

SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.

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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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