Secureworks Corp (SCWX) Receives $15.44 Consensus Price Target from Brokerages

Shares of Secureworks Corp (NASDAQ:SCWX) have received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $15.44.

SCWX has been the subject of several research analyst reports. BidaskClub cut shares of Secureworks from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Zacks Investment Research upgraded shares of Secureworks from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday, March 5th. Barclays restated a “sell” rating and issued a $15.00 price target on shares of Secureworks in a research note on Friday, December 7th. Morgan Stanley lowered shares of Secureworks from an “overweight” rating to an “equal weight” rating and set a $17.00 price target for the company. in a research note on Monday, December 10th. Finally, Bank of America set a $11.00 price target on shares of Secureworks and gave the stock a “sell” rating in a research note on Saturday, December 8th.

Shares of Secureworks stock traded down $0.57 on Friday, reaching $18.80. The company had a trading volume of 220,613 shares, compared to its average volume of 290,584. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -41.78 and a beta of 1.10. Secureworks has a 52-week low of $7.83 and a 52-week high of $24.91.

Several large investors have recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of Secureworks by 24.7% during the fourth quarter. Legal & General Group Plc now owns 855,078 shares of the technology company’s stock worth $14,442,000 after buying an additional 169,486 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Secureworks by 2.1% in the third quarter. Vanguard Group Inc now owns 765,568 shares of the technology company’s stock worth $11,216,000 after purchasing an additional 15,442 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Secureworks by 2.1% in the third quarter. Vanguard Group Inc. now owns 765,568 shares of the technology company’s stock worth $11,216,000 after purchasing an additional 15,442 shares during the last quarter. Royce & Associates LP increased its position in shares of Secureworks by 2.2% during the fourth quarter. Royce & Associates LP now owns 710,362 shares of the technology company’s stock valued at $11,998,000 after acquiring an additional 15,414 shares during the last quarter. Finally, Gagnon Securities LLC increased its position in shares of Secureworks by 8.2% during the third quarter. Gagnon Securities LLC now owns 568,056 shares of the technology company’s stock valued at $8,322,000 after acquiring an additional 43,093 shares during the last quarter. Institutional investors and hedge funds own 10.78% of the company’s stock.

Secureworks Company Profile

SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations 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.

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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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