Secureworks (SCWX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Secureworks (NASDAQ:SCWX) from a hold rating to a sell rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “SecureWorks Corp. offers intelligence-driven information security solutions focused on protecting from cyber-attacks. The Company’s solutions enable organizations to fortify their cyber defenses to prevent security breaches; detect malicious activity in real time; prioritize and respond rapidly to security breaches and predict emerging threats. Its integrated suite of solutions include managed security, threat intelligence, security and risk consulting as well as incident response. SecureWorks Corp. is based in Atlanta, Georgia. “

Several other research firms also recently commented on SCWX. BidaskClub downgraded Secureworks from a buy rating to a hold rating in a report on Thursday, March 7th. Bank of America reissued an underperform rating and issued a $12.50 target price (up from $10.50) on shares of Secureworks in a report on Tuesday, February 5th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $15.44.

Shares of SCWX stock opened at $19.14 on Friday. Secureworks has a twelve month low of $9.87 and a twelve month high of $24.91. The firm has a market capitalization of $1.45 billion, a P/E ratio of -119.63 and a beta of 1.05.

Secureworks (NASDAQ:SCWX) last released its earnings results on Wednesday, March 27th. The technology company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.06. Secureworks had a negative return on equity of 1.85% and a negative net margin of 7.54%. The business had revenue of $130.70 million for the quarter, compared to the consensus estimate of $132.62 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Secureworks will post -0.29 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in SCWX. Legal & General Group Plc lifted its holdings in shares of Secureworks by 66,527.0% during the third quarter. Legal & General Group Plc now owns 685,592 shares of the technology company’s stock valued at $10,044,000 after purchasing an additional 684,563 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Secureworks by 28.1% during the fourth quarter. BlackRock Inc. now owns 540,342 shares of the technology company’s stock valued at $9,127,000 after purchasing an additional 118,564 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Secureworks by 59.2% during the fourth quarter. Two Sigma Investments LP now owns 182,426 shares of the technology company’s stock valued at $3,081,000 after purchasing an additional 67,801 shares in the last quarter. Prescott Group Capital Management L.L.C. lifted its holdings in shares of Secureworks by 97.1% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 94,206 shares of the technology company’s stock valued at $1,591,000 after purchasing an additional 46,402 shares in the last quarter. Finally, Dupont Capital Management Corp bought a new position in shares of Secureworks during the fourth quarter valued at $605,000. 10.77% of the stock is currently owned by institutional investors and hedge funds.

About Secureworks

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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