SecureWorks (SCWX) Lowered to “Neutral” at J P Morgan Chase & Co

SecureWorks (NASDAQ:SCWX) was downgraded by analysts at J P Morgan Chase & Co from an “overweight” rating to a “neutral” rating in a report issued on Wednesday.

Other equities analysts also recently issued research reports about the company. 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 report on Friday, October 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $15.00 price target (up previously from $13.00) on shares of SecureWorks in a research report on Tuesday, October 3rd. Zacks Investment Research raised SecureWorks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Citigroup reaffirmed a “neutral” rating and set a $11.00 price target (up previously from $10.00) on shares of SecureWorks in a research report on Thursday, September 7th. Finally, KeyCorp reaffirmed a “buy” rating and set a $15.00 price target on shares of SecureWorks in a research report on Sunday, November 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $13.67.

SecureWorks (NASDAQ SCWX) traded up $0.09 during trading hours on Wednesday, reaching $9.04. The company’s stock had a trading volume of 134,524 shares, compared to its average volume of 101,714. SecureWorks has a 52-week low of $8.25 and a 52-week high of $12.99.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings results on Wednesday, September 6th. The technology company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. SecureWorks had a negative return on equity of 3.32% and a negative net margin of 8.97%. The firm had revenue of $116.27 million during the quarter, compared to the consensus estimate of $113.75 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. The business’s revenue was up 11.9% on a year-over-year basis. sell-side analysts expect that SecureWorks will post -0.45 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its holdings in shares of SecureWorks by 1.0% in the 1st quarter. Alliancebernstein L.P. now owns 20,100 shares of the technology company’s stock valued at $191,000 after buying an additional 200 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of SecureWorks by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 21,098 shares of the technology company’s stock valued at $201,000 after buying an additional 423 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of SecureWorks by 8.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock valued at $129,000 after buying an additional 1,022 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of SecureWorks by 15.3% in the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock valued at $133,000 after buying an additional 1,900 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in shares of SecureWorks by 32.2% in the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock valued at $120,000 after buying an additional 3,135 shares during the last quarter. 7.96% of the stock is owned by institutional investors.

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SecureWorks Company Profile

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 (NASDAQ:SCWX)

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