SecureWorks (NASDAQ:SCWX) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a report released on Sunday. The brokerage issued a hold rating on the technology company’s stock.

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

SecureWorks Price Performance

Shares of SCWX opened at $8.38 on Friday. SecureWorks has a 1 year low of $5.61 and a 1 year high of $9.76. The stock has a 50 day simple moving average of $8.22 and a two-hundred day simple moving average of $7.44. The firm has a market cap of $744.40 million, a P/E ratio of -9.86 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last announced its quarterly earnings data 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 business had revenue of $82.18 million during the quarter, compared to analysts’ expectations of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. On average, equities analysts anticipate that SecureWorks will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On SecureWorks

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP increased its holdings 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 purchasing an additional 5,205 shares during the period. Scalar Gauge Management LLC grew its position in shares of SecureWorks by 18.8% in 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 increased its stake in shares of SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after buying an additional 16,327 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of SecureWorks by 107.0% during the second 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 in the last quarter. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in SecureWorks in the second quarter worth $127,000. 14.38% of the stock is owned by institutional investors.

SecureWorks Company Profile

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.