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

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

SCWX has been the topic of a number of other research reports. Barclays lifted their target price on 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.

SecureWorks Trading Down 0.2 %

Shares of SCWX stock opened at $8.37 on Friday. The company has a market cap of $743.51 million, a P/E ratio of -9.86 and a beta of 1.00. The firm has a fifty day moving average price of $8.19 and a 200 day moving average price of $7.41. SecureWorks has a 12 month low of $5.61 and a 12 month high of $9.76.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. The business had revenue of $82.18 million for the quarter, compared to analyst estimates of $80.98 million. On average, equities analysts forecast that SecureWorks will post -0.29 EPS for the current year.

Institutional Investors Weigh In On SecureWorks

A number of hedge funds and other institutional investors have recently bought and sold shares of SCWX. King Luther Capital Management Corp purchased a new position in shares of SecureWorks in the 2nd quarter valued at about $411,000. Gladius Capital Management LP purchased a new position in SecureWorks in the third quarter valued at about $463,000. Scalar Gauge Management LLC lifted its position in shares of SecureWorks by 16.4% during the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after acquiring an additional 51,869 shares during the period. Inspire Investing LLC acquired a new stake in shares of SecureWorks during the 3rd quarter valued at approximately $449,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of SecureWorks in the 3rd quarter worth approximately $442,000. Institutional investors and hedge funds 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.