StockNews.com Initiates Coverage on SecureWorks (NASDAQ:SCWX)

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

Other equities research analysts also recently issued reports about the company. Barclays lifted their price objective on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

SecureWorks Stock Performance

Shares of SCWX stock opened at $8.43 on Monday. The company has a market capitalization of $748.84 million, a price-to-earnings ratio of -9.92 and a beta of 1.00. SecureWorks has a one year low of $5.61 and a one year high of $9.76. The company’s 50-day moving average is $8.25 and its 200 day moving average is $7.49.

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

Institutional Investors Weigh In On SecureWorks

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jaffetilchin Investment Partners LLC purchased a new stake in SecureWorks in the 2nd quarter worth approximately $127,000. Oppenheimer Asset Management Inc. lifted its stake in shares of 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 buying an additional 19,735 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in SecureWorks by 4.9% during the 2nd 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. Renaissance Technologies LLC grew its holdings in SecureWorks by 22.3% during the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after buying an additional 33,100 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new position in shares of SecureWorks during the 2nd quarter valued at about $411,000. Hedge funds and other institutional investors own 14.38% of the company’s stock.

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.