SecureWorks (SCWX) Raised to Overweight at First Analysis

First Analysis upgraded shares of SecureWorks (NASDAQ:SCWX) from an equal weight rating to an overweight rating in a report published on Friday, Marketbeat Ratings reports. They currently have $12.00 price objective on the technology company’s stock.

SCWX has been the subject of a number of other reports. Needham & Company LLC assumed coverage on shares of SecureWorks in a research note on Tuesday, January 16th. They set a hold rating for the company. ValuEngine raised shares of SecureWorks from a sell rating to a hold rating in a research note on Thursday. Zacks Investment Research downgraded shares of SecureWorks from a hold rating to a sell rating in a research note on Wednesday, April 4th. BidaskClub downgraded shares of SecureWorks from a hold rating to a sell rating in a research note on Thursday, February 22nd. Finally, Stifel Nicolaus downgraded shares of SecureWorks from a buy rating to a hold rating and dropped their price target for the stock from $14.00 to $9.00 in a research note on Thursday, March 29th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $11.50.

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SCWX opened at $9.96 on Friday. The company has a market cap of $776.02, a P/E ratio of -22.13 and a beta of 1.90. SecureWorks has a fifty-two week low of $7.83 and a fifty-two week high of $12.99.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings results on Wednesday, March 28th. The technology company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.01). The business had revenue of $120.65 million for the quarter, compared to the consensus estimate of $117.71 million. SecureWorks had a negative return on equity of 5.37% and a negative net margin of 6.00%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. analysts predict that SecureWorks will post -0.33 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in SecureWorks during the third quarter valued at approximately $111,000. California State Teachers Retirement System grew its holdings in SecureWorks by 15.3% during the second quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock valued at $133,000 after purchasing an additional 1,900 shares during the period. Deutsche Bank AG grew its holdings in SecureWorks by 156.9% during the fourth quarter. Deutsche Bank AG now owns 19,307 shares of the technology company’s stock valued at $171,000 after purchasing an additional 11,791 shares during the period. Stone Ridge Asset Management LLC acquired a new position in SecureWorks during the fourth quarter valued at approximately $199,000. Finally, Spark Investment Management LLC acquired a new position in SecureWorks during the fourth quarter valued at approximately $236,000. Hedge funds and other institutional investors own 7.60% of the company’s stock.

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SecureWorks Company Profile

SecureWorks Corp. provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond rapidly to security breaches, and predict emerging threats.

Analyst Recommendations for SecureWorks (NASDAQ:SCWX)

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