StockNews.com Initiates Coverage on SecureWorks (NASDAQ:SCWX)

Equities research analysts at StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a report issued on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

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

SecureWorks Stock Performance

Shares of NASDAQ SCWX opened at $8.38 on Thursday. The company has a market capitalization of $740.82 million, a P/E ratio of -7.91 and a beta of 0.99. SecureWorks has a 52-week low of $5.45 and a 52-week high of $9.76. The company’s 50 day moving average price is $7.98 and its 200-day moving average price is $7.09.

SecureWorks (NASDAQ:SCWX) last issued its quarterly 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). The firm had revenue of $82.18 million during the quarter, compared to analyst estimates of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. Analysts forecast that SecureWorks will post -0.29 earnings per share for the current year.

Institutional Trading of SecureWorks

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brooktree Capital Management increased its stake in SecureWorks by 1.1% during the 1st quarter. Brooktree Capital Management now owns 163,910 shares of the technology company’s stock valued at $1,101,000 after purchasing an additional 1,775 shares in the last quarter. Marshall Wace LLP grew its stake in shares of SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after acquiring an additional 5,205 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of SecureWorks by 1.5% in the 1st quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock worth $5,992,000 after acquiring an additional 13,551 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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. Finally, Squarepoint Ops LLC bought a new stake in shares of SecureWorks in the 2nd quarter worth $121,000. Institutional investors own 14.38% of the company’s stock.

About SecureWorks

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.