Secureworks’ (SCWX) “Sell” Rating Restated at Barclays

Secureworks’ (SCWX) “Sell” Rating Restated at Barclays

Secureworks (NASDAQ:SCWX)‘s stock had its “sell” rating restated by Barclays in a research report issued on Friday. They currently have a $15.00 price objective on the technology company’s stock. Barclays’ price objective would indicate a potential downside of 12.28% from the stock’s previous close.

A number of other research analysts have also recently issued reports on SCWX. BidaskClub raised shares of Secureworks from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 1st. Zacks Investment Research cut shares of Secureworks from a “buy” rating to a “hold” rating in a report on Wednesday, November 7th. First Analysis cut shares of Secureworks from an “outperform” rating to a “neutral” rating in a report on Thursday. Stifel Nicolaus increased their target price on shares of Secureworks from $10.50 to $11.50 and gave the company a “hold” rating in a report on Thursday, September 6th. Finally, UBS Group cut shares of Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 target price for the company. in a report on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Secureworks currently has an average rating of “Hold” and a consensus price target of $12.38.

Shares of Secureworks stock opened at $17.10 on Friday. Secureworks has a 12-month low of $7.83 and a 12-month high of $18.97. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -38.00 and a beta of 0.35.

Secureworks (NASDAQ:SCWX) last issued its earnings results on Thursday, December 6th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.11. Secureworks had a negative net margin of 5.13% and a negative return on equity of 4.67%. The company had revenue of $133.06 million during the quarter, compared to analysts’ expectations of $130.52 million. During the same period last year, the company posted ($0.06) earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Secureworks will post -0.34 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Secureworks by 2.1% in the third quarter. Vanguard Group Inc. now owns 765,568 shares of the technology company’s stock valued at $11,216,000 after purchasing an additional 15,442 shares during the last quarter. Royce & Associates LP grew its position in shares of Secureworks by 49.0% in the third quarter. Royce & Associates LP now owns 694,948 shares of the technology company’s stock valued at $10,181,000 after purchasing an additional 228,475 shares during the last quarter. Legal & General Group Plc grew its position in shares of Secureworks by 66,527.0% in the third quarter. Legal & General Group Plc now owns 685,592 shares of the technology company’s stock valued at $10,044,000 after purchasing an additional 684,563 shares during the last quarter. Gagnon Securities LLC grew its position in shares of Secureworks by 8.2% in the third quarter. Gagnon Securities LLC now owns 568,056 shares of the technology company’s stock valued at $8,322,000 after purchasing an additional 43,093 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Secureworks by 27.8% in the second quarter. BlackRock Inc. now owns 425,529 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 92,683 shares during the last quarter. Institutional investors and hedge funds own 9.56% of the company’s stock.

About Secureworks

SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations 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.

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