SecureWorks (NASDAQ:SCWX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a research note released on Sunday morning. The brokerage issued a hold rating on the technology company’s stock.

SCWX has been the subject of several other reports. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. Barclays raised their price objective on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th.

SecureWorks Price Performance

NASDAQ:SCWX opened at $8.39 on Friday. The firm has a market cap of $745.27 million, a PE ratio of -9.87 and a beta of 1.00. The company has a 50-day moving average of $8.21 and a 200 day moving average of $7.43. SecureWorks has a 1-year low of $5.61 and a 1-year high of $9.76.

SecureWorks (NASDAQ:SCWX) last announced its quarterly 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 company had revenue of $82.18 million during the quarter, compared to analysts’ expectations of $80.98 million. Sell-side analysts anticipate that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Trading of SecureWorks

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in shares of SecureWorks during the second quarter worth $121,000. Jaffetilchin Investment Partners LLC purchased a new position in SecureWorks in the 2nd quarter worth $127,000. FMR LLC lifted its position in SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock worth $192,000 after acquiring an additional 3,964 shares during the period. Oppenheimer Asset Management Inc. grew its stake in SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after purchasing an additional 19,735 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of 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. 14.38% of the stock is currently owned by institutional investors and hedge funds.

About SecureWorks

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.