Secureworks (SCWX) Research Coverage Started at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Secureworks (NASDAQ:SCWX) in a report published on Tuesday, MarketBeat.com reports. The brokerage issued a hold rating on the technology company’s stock.

SCWX has been the subject of a number of other reports. Royal Bank of Canada reissued a buy rating on shares of Secureworks in a report on Tuesday, November 7th. BidaskClub downgraded shares of Secureworks from a hold rating to a sell rating in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Secureworks from a hold rating to a sell rating in a report on Thursday, October 5th. JPMorgan Chase & Co. reissued a buy rating on shares of Secureworks in a report on Thursday, October 12th. Finally, KeyCorp reissued a buy rating and issued a $15.00 price target on shares of Secureworks in a report on Friday, October 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $12.95.

Shares of Secureworks (NASDAQ:SCWX) traded up $0.32 during midday trading on Tuesday, reaching $9.51. 33,491 shares of the company’s stock were exchanged, compared to its average volume of 43,872. Secureworks has a 52 week low of $8.10 and a 52 week high of $12.99. The firm has a market cap of $757.26, a P/E ratio of -16.98 and a beta of 2.38.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Wednesday, December 6th. The technology company reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. Secureworks had a negative net margin of 9.60% and a negative return on equity of 3.95%. The company had revenue of $117.53 million during the quarter, compared to the consensus estimate of $115.67 million. During the same period in the prior year, the company earned ($0.02) EPS. Secureworks’s revenue was up 9.7% on a year-over-year basis. equities analysts anticipate that Secureworks will post -0.43 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of SCWX. FMR LLC purchased a new stake in Secureworks during the second quarter valued at about $6,863,000. Gagnon Securities LLC purchased a new stake in Secureworks during the third quarter valued at about $5,109,000. Vanguard Group Inc. lifted its stake in Secureworks by 10.9% during the second quarter. Vanguard Group Inc. now owns 869,475 shares of the technology company’s stock valued at $8,078,000 after buying an additional 85,627 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Secureworks by 354.3% during the third quarter. King Luther Capital Management Corp now owns 99,940 shares of the technology company’s stock valued at $1,234,000 after buying an additional 77,940 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Secureworks during the second quarter valued at about $225,000. 7.96% of the stock is owned by institutional investors.

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Secureworks Company Profile

Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies 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.

Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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