Citigroup Inc. Reaffirms “Neutral” Rating for SecureWorks Corp. (SCWX)

Citigroup Inc. reiterated their neutral rating on shares of SecureWorks Corp. (NASDAQ:SCWX) in a report issued on Thursday. They currently have a $11.00 price target on the technology company’s stock, up from their previous price target of $10.00.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research downgraded SecureWorks Corp. from a hold rating to a sell rating in a research note on Friday, September 1st. UBS AG reissued a neutral rating and issued a $11.00 price objective (down from $12.00) on shares of SecureWorks Corp. in a research note on Friday, June 9th. Finally, Barclays PLC reissued a hold rating and issued a $11.00 price objective on shares of SecureWorks Corp. in a research note on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $13.50.

Shares of SecureWorks Corp. (SCWX) opened at 11.10 on Thursday. The stock’s market cap is $899.92 million. The firm has a 50-day moving average price of $10.64 and a 200 day moving average price of $10.17. SecureWorks Corp. has a 12-month low of $8.25 and a 12-month high of $13.65.

SecureWorks Corp. (NASDAQ:SCWX) last announced its quarterly earnings data on Wednesday, September 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $116.27 million during the quarter, compared to the consensus estimate of $113.75 million. SecureWorks Corp. had a negative return on equity of 3.32% and a negative net margin of 8.97%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) EPS. Equities research analysts predict that SecureWorks Corp. will post ($0.31) EPS for the current fiscal year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. Trexquant Investment LP raised its stake in shares of SecureWorks Corp. by 158.1% during the 1st quarter. Trexquant Investment LP now owns 35,100 shares of the technology company’s stock worth $333,000 after purchasing an additional 21,501 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of SecureWorks Corp. during the 1st quarter worth about $147,000. Bank of America Corp DE raised its stake in shares of SecureWorks Corp. by 128.7% during the 1st quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock worth $987,000 after purchasing an additional 58,478 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of SecureWorks Corp. during the 1st quarter worth about $4,076,000. Finally, Vanguard Group Inc. raised its stake in shares of SecureWorks Corp. by 9.6% during the 1st quarter. Vanguard Group Inc. now owns 783,848 shares of the technology company’s stock worth $7,447,000 after purchasing an additional 68,479 shares in the last quarter. 7.66% of the stock is owned by institutional investors.

SecureWorks Corp. Company Profile

Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies 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.

Analyst Recommendations for SecureWorks Corp. (NASDAQ:SCWX)

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