Wall Street brokerages expect Secureworks Corp (NASDAQ:SCWX) to announce sales of $117.71 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Secureworks’ earnings. The highest sales estimate is $117.81 million and the lowest is $117.55 million. Secureworks posted sales of $118.95 million during the same quarter last year, which suggests a negative year over year growth rate of 1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, April 4th.
On average, analysts expect that Secureworks will report full-year sales of $117.71 million for the current financial year, with estimates ranging from $465.24 million to $465.50 million. For the next fiscal year, analysts forecast that the business will report sales of $503.07 million per share, with estimates ranging from $500.00 million to $505.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Secureworks.
Secureworks (NASDAQ:SCWX) last announced its earnings results on Wednesday, December 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. The business had revenue of $117.53 million for the quarter, compared to analyst estimates of $115.67 million. Secureworks had a negative return on equity of 3.95% and a negative net margin of 9.60%. Secureworks’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS.
A number of research firms have weighed in on SCWX. JPMorgan Chase & Co. restated a “buy” rating on shares of Secureworks in a research note on Thursday, October 12th. Barclays downgraded Secureworks from an “equal weight” rating to an “underweight” rating and set a $11.00 price target for the company. in a research note on Friday, October 13th. KeyCorp restated a “buy” rating and issued a $15.00 price target on shares of Secureworks in a research note on Sunday, November 19th. Royal Bank of Canada restated a “buy” rating on shares of Secureworks in a research note on Tuesday, November 7th. Finally, BidaskClub downgraded Secureworks from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $12.95.
Several hedge funds and other institutional investors have recently modified their holdings of SCWX. SG Americas Securities LLC bought a new position in shares of Secureworks during the 3rd quarter worth approximately $111,000. Teachers Advisors LLC boosted 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 during the period. JPMorgan Chase & Co. boosted 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 during the period. California State Teachers Retirement System boosted 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 during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Secureworks during the 3rd quarter worth approximately $158,000. Institutional investors own 7.96% of the company’s stock.
Secureworks (NASDAQ:SCWX) traded down $0.07 during mid-day trading on Tuesday, reaching $9.44. The company’s stock had a trading volume of 129,604 shares, compared to its average volume of 37,795. The company has a market capitalization of $765.37, a P/E ratio of -16.86 and a beta of 2.41. Secureworks has a 12-month low of $8.10 and a 12-month high of $12.99.
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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.
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