SecureWorks (NASDAQ:SCWX) Issues FY 2022 Earnings Guidance

SecureWorks (NASDAQ:SCWX) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $-0.130–0.040 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.280. The company issued revenue guidance of $540 million-550 million, compared to the consensus revenue estimate of $540.67 million.SecureWorks also updated its Q2 2022 guidance to $-0.030-0.000 EPS.

Several brokerages recently issued reports on SCWX. Zacks Investment Research downgraded shares of SecureWorks from a buy rating to a hold rating in a research report on Thursday. Royal Bank of Canada upped their price objective on SecureWorks from $14.00 to $15.00 and gave the stock a sector perform rating in a report on Friday, June 4th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. SecureWorks has an average rating of Hold and an average price target of $15.40.

NASDAQ SCWX traded up $0.82 on Friday, reaching $19.02. The company had a trading volume of 6,753 shares, compared to its average volume of 92,365. SecureWorks has a 52 week low of $10.01 and a 52 week high of $18.25. The company has a 50 day moving average of $14.08. The company has a market capitalization of $1.58 billion, a PE ratio of -68.70 and a beta of 1.11.

SecureWorks (NASDAQ:SCWX) last posted its earnings results on Wednesday, June 2nd. The technology company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.09. SecureWorks had a negative net margin of 3.90% and a negative return on equity of 0.06%. The company had revenue of $139.50 million for the quarter, compared to analyst estimates of $135.10 million. During the same period last year, the business posted $0.03 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that SecureWorks will post -0.56 EPS for the current year.

About SecureWorks

SecureWorks Corp. is a cyber security company, which engages in the provision of information security solutions. The firm’s products include extended detection and response, managed detection and response, and vulnerability management. Its services include managed security, incident response, threat intelligence, security consulting, adversarial security testing.

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