Secureworks Corp (NASDAQ:SCWX) Receives $12.88 Average Price Target from Analysts

Shares of Secureworks Corp (NASDAQ:SCWX) have received a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.50.

SCWX has been the topic of a number of analyst reports. Goldman Sachs Group initiated coverage on Secureworks in a research report on Tuesday, November 12th. They set a “sell” rating and a $12.00 target price on the stock. ValuEngine upgraded Secureworks from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of Secureworks in a research report on Monday, December 9th. Zacks Investment Research upgraded Secureworks from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday. Finally, BidaskClub cut Secureworks from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 14th.

Shares of NASDAQ:SCWX traded up $1.19 during trading on Monday, reaching $13.97. 514,379 shares of the company’s stock traded hands, compared to its average volume of 181,727. Secureworks has a fifty-two week low of $10.37 and a fifty-two week high of $24.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.20 billion, a PE ratio of -87.31 and a beta of 1.05. The company has a 50-day simple moving average of $12.21 and a 200-day simple moving average of $12.63.

Secureworks (NASDAQ:SCWX) last posted its earnings results on Thursday, December 5th. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.04. Secureworks had a negative return on equity of 2.39% and a negative net margin of 7.06%. The firm had revenue of $141.33 million for the quarter, compared to analysts’ expectations of $136.12 million. During the same period last year, the firm earned $0.06 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities research analysts forecast that Secureworks will post -0.26 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in Secureworks by 1,276.0% in the 3rd quarter. Millennium Management LLC now owns 114,069 shares of the technology company’s stock valued at $1,474,000 after buying an additional 123,769 shares in the last quarter. State Street Corp lifted its stake in Secureworks by 0.9% in the 3rd quarter. State Street Corp now owns 150,987 shares of the technology company’s stock valued at $1,952,000 after buying an additional 1,282 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Secureworks by 12.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 94,985 shares of the technology company’s stock valued at $1,228,000 after buying an additional 10,593 shares in the last quarter. California Public Employees Retirement System lifted its stake in Secureworks by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 36,500 shares of the technology company’s stock valued at $472,000 after buying an additional 2,000 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Secureworks by 6.6% in the 3rd quarter. Rhumbline Advisers now owns 16,213 shares of the technology company’s stock valued at $210,000 after buying an additional 1,006 shares in the last quarter. 8.79% of the stock is currently owned by hedge funds and other institutional investors.

Secureworks Company Profile

SecureWorks Corp., a cybersecurity company, provides an integrated suite of intelligence-driven information security solutions focused on protecting organizations worldwide. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response.

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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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