BidaskClub Lowers Secureworks (NASDAQ:SCWX) to Sell

BidaskClub cut shares of Secureworks (NASDAQ:SCWX) from a hold rating to a sell rating in a research report report published on Friday, BidAskClub reports.

A number of other brokerages have also issued reports on SCWX. Barclays reiterated a sell rating and set a $13.00 target price on shares of Secureworks in a research report on Thursday, June 6th. TheStreet lowered shares of Secureworks from a c- rating to a d+ rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Secureworks from a hold rating to a buy rating and set a $16.00 price objective on the stock in a report on Thursday, September 12th. Morgan Stanley set a $14.00 price objective on shares of Secureworks and gave the company a hold rating in a report on Thursday, June 6th. Finally, ValuEngine lowered shares of Secureworks from a buy rating to a hold rating in a report on Saturday, September 14th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Secureworks has a consensus rating of Hold and an average target price of $15.08.

Shares of SCWX stock opened at $12.85 on Friday. Secureworks has a 1 year low of $10.37 and a 1 year high of $24.91. The firm’s 50 day moving average is $12.17 and its 200-day moving average is $15.09. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -80.31 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04.

Secureworks (NASDAQ:SCWX) last announced its earnings results on Thursday, September 5th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.09. Secureworks had a negative net margin of 6.38% and a negative return on equity of 1.61%. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $133.02 million. During the same period in the prior year, the business earned ($0.01) earnings per share. Secureworks’s quarterly revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Secureworks will post -0.3 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in SCWX. ETF Managers Group LLC lifted its holdings in Secureworks by 51.2% in the second quarter. ETF Managers Group LLC now owns 988,476 shares of the technology company’s stock valued at $13,196,000 after buying an additional 334,525 shares during the period. First Trust Advisors LP bought a new stake in Secureworks in the first quarter valued at approximately $3,519,000. JPMorgan Chase & Co. increased its stake in Secureworks by 147.5% in the second quarter. JPMorgan Chase & Co. now owns 82,910 shares of the technology company’s stock valued at $1,107,000 after purchasing an additional 49,410 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Secureworks by 137.6% in the second quarter. Bank of New York Mellon Corp now owns 83,437 shares of the technology company’s stock valued at $1,108,000 after purchasing an additional 48,318 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Secureworks by 112.4% in the second quarter. AQR Capital Management LLC now owns 84,830 shares of the technology company’s stock valued at $1,127,000 after purchasing an additional 44,882 shares in the last quarter. Institutional investors and hedge funds own 9.36% of the company’s stock.

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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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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