SecureWorks (NASDAQ:SCWX) Coverage Initiated at StockNews.com

by · The Markets Daily

Analysts at StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX – Get Free Report) in a report issued on Monday. The firm set a “hold” rating on the technology company’s stock.

Several other equities research analysts have also issued reports on SCWX. Barclays increased their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

Read Our Latest Stock Analysis on SCWX

SecureWorks Stock Performance

Shares of NASDAQ SCWX opened at $8.46 on Monday. The firm has a market cap of $751.50 million, a P/E ratio of -9.95 and a beta of 1.00. SecureWorks has a 1 year low of $5.61 and a 1 year high of $9.76. The firm’s 50 day moving average price is $8.26 and its 200 day moving average price is $7.51.

SecureWorks (NASDAQ:SCWX – Get Free Report) last released its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The company had revenue of $82.18 million during the quarter, compared to analysts’ expectations of $80.98 million. As a group, equities analysts predict that SecureWorks will post -0.29 EPS for the current year.

Hedge Funds Weigh In On SecureWorks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SCWX. Marshall Wace LLP boosted its stake in SecureWorks by 11.6% during the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after acquiring an additional 5,205 shares during the last quarter. Scalar Gauge Management LLC lifted its holdings in SecureWorks by 18.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock worth $2,213,000 after buying an additional 50,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of SecureWorks by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after acquiring an additional 16,327 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after acquiring an additional 19,735 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in shares of SecureWorks during the 2nd quarter valued at approximately $127,000. 14.38% of the stock is owned by hedge funds and other institutional investors.

SecureWorks Company Profile

(Get Free Report)

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions; managed security services; and professional services, including incident response and penetration testing services.

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