Secureworks (SCWX) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Secureworks (NASDAQ:SCWX) from a buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “SecureWorks Corp. offers intelligence-driven information security solutions focused on protecting from cyber-attacks. The Company’s 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. Its integrated suite of solutions include managed security, threat intelligence, security and risk consulting as well as incident response. SecureWorks Corp. is based in Atlanta, Georgia. “

SCWX has been the topic of several other reports. BidaskClub upgraded shares of Secureworks from a hold rating to a buy rating in a research report on Thursday, September 27th. UBS Group lowered shares of Secureworks from a neutral rating to a sell rating and set a $11.00 price target on the stock. in a research report on Friday, August 24th. Morgan Stanley raised their price target on shares of Secureworks from $14.00 to $15.00 and gave the stock a buy rating in a research report on Thursday, September 6th. Finally, Stifel Nicolaus raised their price objective on shares of Secureworks from $10.50 to $11.50 and gave the stock a hold rating in a report on Thursday, September 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $12.00.

NASDAQ SCWX traded down $1.44 during midday trading on Wednesday, hitting $16.63. The company had a trading volume of 147,912 shares, compared to its average volume of 165,580. The firm has a market capitalization of $1.50 billion, a price-to-earnings 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 posted its quarterly earnings results on Wednesday, September 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. The company had revenue of $128.80 million for the quarter, compared to analyst estimates of $127.62 million. Secureworks had a negative net margin of 5.13% and a negative return on equity of 4.67%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. Sell-side analysts forecast that Secureworks will post -0.34 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in SCWX. Rhumbline Advisers bought a new position in shares of Secureworks during the 2nd quarter worth about $142,000. Schwab Charles Investment Management Inc. bought a new position in shares of Secureworks during the 1st quarter worth about $158,000. Engineers Gate Manager LP bought a new position in shares of Secureworks during the 2nd quarter worth about $186,000. AXA bought a new position in shares of Secureworks during the 3rd quarter worth about $193,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Secureworks during the 3rd quarter worth about $331,000. 8.76% of the stock is owned by institutional investors.

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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