SecureWorks Corp. (SCWX) Receives $13.88 Average PT from Analysts

Shares of SecureWorks Corp. (NASDAQ:SCWX) have received an average rating of “Hold” from the ten brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $13.38.

Several equities research analysts have weighed in on SCWX shares. Barclays PLC reiterated a “hold” rating and issued a $11.00 target price on shares of SecureWorks Corp. in a report on Wednesday, June 7th. UBS AG reiterated a “neutral” rating and issued a $11.00 target price (down from $12.00) on shares of SecureWorks Corp. in a report on Friday, June 9th. Zacks Investment Research upgraded shares of SecureWorks Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $11.00 target price (up from $10.00) on shares of SecureWorks Corp. in a report on Thursday.

Shares of SecureWorks Corp. (SCWX) traded up 0.63% during mid-day trading on Tuesday, reaching $11.10. 82,568 shares of the company’s stock traded hands. SecureWorks Corp. has a 52 week low of $8.25 and a 52 week high of $14.01. The company’s 50 day moving average is $10.64 and its 200-day moving average is $10.17. The firm’s market cap is $899.92 million.

SecureWorks Corp. (NASDAQ:SCWX) last posted its earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. The company had revenue of $116.27 million for the quarter, compared to analyst estimates of $113.75 million. SecureWorks Corp. had a negative net margin of 8.97% and a negative return on equity of 3.32%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted ($0.07) earnings per share. Equities analysts expect that SecureWorks Corp. will post ($0.31) earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of SCWX. FMR LLC acquired a new stake in shares of SecureWorks Corp. during the second quarter worth $6,863,000. Penserra Capital Management LLC acquired a new stake in shares of SecureWorks Corp. during the first quarter worth $4,076,000. Horrell Capital Management Inc. raised its holdings in shares of SecureWorks Corp. by 46.4% during the second quarter. Horrell Capital Management Inc. now owns 497,000 shares of the technology company’s stock worth $4,617,000 after acquiring an additional 157,499 shares during the period. Vanguard Group Inc. raised its holdings in shares of SecureWorks Corp. by 10.9% during the second quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock worth $8,078,000 after acquiring an additional 85,627 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of SecureWorks Corp. by 128.7% during the first quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock worth $987,000 after acquiring an additional 58,478 shares during the period. Institutional investors and hedge funds own 7.66% of the company’s stock.

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About SecureWorks Corp.

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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