Secureworks (SCWX) Stock Rating Lowered by BidaskClub

BidaskClub cut shares of Secureworks (NASDAQ:SCWX) from a sell rating to a strong sell rating in a research note published on Thursday, December 7th.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. cut shares of Secureworks from an overweight rating to a neutral rating and set a $12.00 price objective for the company. in a research report on Wednesday, December 6th. Barclays cut shares of Secureworks from an equal weight rating to an underweight rating and set a $11.00 price target for the company. in a research report on Friday, October 13th. Royal Bank of Canada reaffirmed an outperform rating and issued a $15.00 price target (up previously from $13.00) on shares of Secureworks in a research report on Tuesday, October 3rd. Zacks Investment Research raised shares of Secureworks from a sell rating to a hold rating in a research report on Wednesday, August 9th. Finally, Citigroup reaffirmed a neutral rating and issued a $11.00 price target (up previously from $10.00) on shares of Secureworks in a research report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $12.95.

Secureworks (NASDAQ:SCWX) traded up $0.13 during trading on Thursday, reaching $9.00. 51,260 shares of the company’s stock traded hands, compared to its average volume of 89,350. The stock has a market cap of $719.15, a PE ratio of -16.07 and a beta of 2.38. Secureworks has a 12 month low of $8.10 and a 12 month high of $12.99.

Secureworks (NASDAQ:SCWX) last released its quarterly earnings data on Wednesday, December 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company had revenue of $117.53 million during the quarter, compared to analysts’ expectations of $115.67 million. Secureworks had a negative net margin of 9.60% and a negative return on equity of 3.95%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.02) EPS. analysts anticipate that Secureworks will post -0.43 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alliancebernstein L.P. raised its stake in shares of Secureworks by 1.0% during the 1st quarter. Alliancebernstein L.P. now owns 20,100 shares of the technology company’s stock worth $191,000 after acquiring an additional 200 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Secureworks by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 21,098 shares of the technology company’s stock worth $201,000 after acquiring an additional 423 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Secureworks by 8.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,022 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Secureworks by 15.3% during the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Secureworks by 32.2% during the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after acquiring an additional 3,135 shares in the last quarter. Hedge funds and other institutional investors own 7.96% of the company’s stock.

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About Secureworks

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 (NASDAQ:SCWX)

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