Secureworks (SCWX) Stock Price Up -1%

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Secureworks Corp (NASDAQ:SCWX) shares rose 1% during mid-day trading on Tuesday . The company traded as high as $13.87 and last traded at $13.60. Approximately 4,032 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 104,087 shares. The stock had previously closed at $13.74.

SCWX has been the subject of a number of research analyst reports. BidaskClub raised Secureworks from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. ValuEngine raised Secureworks from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Stifel Nicolaus boosted their price objective on Secureworks from $9.00 to $10.50 and gave the stock a “hold” rating in a report on Thursday, June 7th. Zacks Investment Research raised Secureworks from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. Finally, Citigroup boosted their price objective on Secureworks from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, June 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Secureworks presently has a consensus rating of “Hold” and an average target price of $11.88.

The company has a market cap of $1.03 billion, a P/E ratio of -30.33 and a beta of 1.38.

Secureworks (NASDAQ:SCWX) last announced its quarterly earnings results on Wednesday, June 6th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $126.16 million during the quarter, compared to analysts’ expectations of $122.48 million. Secureworks had a negative return on equity of 5.19% and a negative net margin of 5.76%. Secureworks’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. sell-side analysts anticipate that Secureworks Corp will post -0.34 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. acquired a new position in shares of Secureworks in the 1st quarter valued at approximately $158,000. Deutsche Bank AG grew its position in shares of Secureworks by 156.9% in the 4th quarter. Deutsche Bank AG now owns 19,307 shares of the technology company’s stock valued at $171,000 after purchasing an additional 11,791 shares during the period. Stone Ridge Asset Management LLC acquired a new position in shares of Secureworks in the 4th quarter valued at approximately $199,000. NJ State Employees Deferred Compensation Plan acquired a new position in shares of Secureworks in the 1st quarter valued at approximately $259,000. Finally, Millennium Management LLC acquired a new position in shares of Secureworks in the 4th quarter valued at approximately $371,000. Institutional investors and hedge funds own 7.52% 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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