SecureWorks Corp. (SCWX) Stock Rating Lowered by Barclays PLC

SecureWorks Corp. (NASDAQ:SCWX) was downgraded by Barclays PLC from an “equal weight” rating to an “underweight” rating in a research note issued on Friday, Marketbeat.com reports. They presently have a $11.00 price objective on the technology company’s stock. Barclays PLC’s price target points to a potential downside of 7.56% from the stock’s previous close.

A number of other research analysts also recently issued reports on SCWX. KeyCorp reiterated a “buy” rating and issued a $15.00 price target on shares of SecureWorks Corp. in a report on Friday, October 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $15.00 price target (up from $13.00) on shares of SecureWorks Corp. in a report on Tuesday, October 3rd. Zacks Investment Research upgraded SecureWorks Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. J P Morgan Chase & Co reiterated a “buy” rating on shares of SecureWorks Corp. in a report on Thursday. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $11.00 price target (up from $10.00) on shares of SecureWorks Corp. in a report on Thursday, September 7th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.80.

SecureWorks Corp. (NASDAQ:SCWX) last announced its quarterly earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. SecureWorks Corp. had a negative return on equity of 3.32% and a negative net margin of 8.97%. The business had revenue of $116.27 million for the quarter, compared to the consensus estimate of $113.75 million. During the same period last year, the business posted ($0.07) EPS. The business’s revenue was up 11.9% compared to the same quarter last year.

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A number of hedge funds have recently made changes to their positions in SCWX. FMR LLC purchased a new position in SecureWorks Corp. during the 2nd quarter worth $6,863,000. Horrell Capital Management Inc. grew its stake in SecureWorks Corp. by 46.4% during the 2nd quarter. Horrell Capital Management Inc. now owns 497,000 shares of the technology company’s stock worth $4,617,000 after buying an additional 157,499 shares during the last quarter. Vanguard Group Inc. grew its stake in SecureWorks Corp. by 10.9% during the 2nd quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock worth $8,078,000 after buying an additional 85,627 shares during the last quarter. Bank of America Corp DE grew its stake in SecureWorks Corp. by 128.7% during the 1st quarter. Bank of America Corp DE now owns 103,914 shares of the technology company’s stock worth $987,000 after buying an additional 58,478 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in SecureWorks Corp. by 172.1% during the 2nd quarter. Blair William & Co. IL now owns 70,726 shares of the technology company’s stock worth $657,000 after buying an additional 44,730 shares during the last quarter. Hedge funds and other institutional investors own 7.66% of the company’s stock.

About SecureWorks Corp.

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.

Analyst Recommendations for SecureWorks Corp. (NASDAQ:SCWX)

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