SecureWorks (NASDAQ:SCWX) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report issued on Saturday. The firm set a “hold” rating on the technology company’s stock.

SCWX has been the subject of a number of other reports. Barclays increased their price target on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a 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 NASDAQ:SCWX opened at $8.37 on Friday. The stock’s 50-day moving average is $8.14 and its 200-day moving average is $7.31. The company has a market cap of $743.51 million, a P/E ratio of -9.85 and a beta of 1.00. SecureWorks has a 52-week low of $5.61 and a 52-week high of $9.76.

SecureWorks (NASDAQ:SCWX) last released 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). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The business had revenue of $82.18 million during the quarter, compared to analyst estimates of $80.98 million. As a group, equities analysts predict that SecureWorks will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. King Luther Capital Management Corp acquired a new position in SecureWorks in the second quarter worth about $411,000. Gladius Capital Management LP acquired a new position in shares of SecureWorks in the 3rd quarter worth approximately $463,000. Scalar Gauge Management LLC lifted its position in shares of SecureWorks by 16.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after buying an additional 51,869 shares during the period. Inspire Investing LLC acquired a new stake in SecureWorks in the 3rd quarter valued at $449,000. Finally, Brown Brothers Harriman & Co. bought a new stake in SecureWorks in the third quarter valued at $442,000. 14.38% of the stock is owned by 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.