Secureworks (SCWX) Announces Earnings Results

Secureworks (NASDAQ:SCWX) issued its quarterly earnings results on Wednesday. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.08, reports. Secureworks had a negative net margin of 7.54% and a negative return on equity of 1.85%. The business had revenue of $132.80 million for the quarter, compared to analyst estimates of $132.10 million. During the same quarter in the prior year, the business posted ($0.06) EPS. Secureworks’s revenue for the quarter was up 5.2% compared to the same quarter last year.

SCWX stock opened at $13.26 on Thursday. The firm has a market capitalization of $1.19 billion, a PE ratio of -82.88 and a beta of 1.40. Secureworks has a 12 month low of $10.58 and a 12 month high of $24.91.

A hedge fund recently raised its stake in Secureworks stock. Geode Capital Management LLC grew its holdings in Secureworks Corp (NASDAQ:SCWX) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,506 shares of the technology company’s stock after acquiring an additional 13,434 shares during the period. Geode Capital Management LLC owned about 0.14% of Secureworks worth $1,966,000 at the end of the most recent quarter. Institutional investors and hedge funds own 10.82% of the company’s stock.

SCWX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Secureworks from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. BidaskClub downgraded shares of Secureworks from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Finally, TheStreet raised shares of Secureworks from a “d+” rating to a “c-” rating in a report on Monday, April 22nd. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Secureworks currently has a consensus rating of “Hold” and an average target price of $15.44.

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About Secureworks

SecureWorks Corp., a cybersecurity company, provides an integrated suite of intelligence-driven information security solutions focused on protecting organizations worldwide. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response.

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Earnings History for Secureworks (NASDAQ:SCWX)

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