SecureWorks (NASDAQ:SCWX) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other equities analysts have also weighed in on SCWX. Barclays boosted their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

SecureWorks Stock Performance

Shares of SCWX opened at $8.37 on Friday. The stock has a market cap of $743.51 million, a P/E ratio of -9.85 and a beta of 1.00. The company has a 50-day moving average of $8.09 and a two-hundred day moving average of $7.20. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76.

SecureWorks (NASDAQ:SCWX) last announced its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $82.18 million for the quarter, compared to analyst estimates of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. As a group, analysts forecast that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On SecureWorks

A number of institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP grew its holdings in SecureWorks by 11.6% in the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after purchasing an additional 5,205 shares during the period. First Eagle Investment Management LLC grew its holdings in SecureWorks by 1.5% in the first quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock valued at $5,992,000 after purchasing an additional 13,551 shares during the period. Brooktree Capital Management grew its holdings in SecureWorks by 9.9% in the third quarter. Brooktree Capital Management now owns 174,191 shares of the technology company’s stock valued at $1,542,000 after purchasing an additional 15,680 shares during the period. Dimensional Fund Advisors LP grew its holdings in SecureWorks by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after purchasing an additional 16,327 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in SecureWorks in the second quarter valued at approximately $121,000. 14.38% of the stock is currently owned by hedge funds and other institutional investors.

SecureWorks Company Profile

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.