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.
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