SecureWorks (NASDAQ:SCWX) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the technology company’s stock.

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

SecureWorks Trading Up 0.4 %

Shares of NASDAQ SCWX opened at $8.46 on Monday. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76. The company has a market cap of $751.50 million, a price-to-earnings ratio of -9.95 and a beta of 1.00. The stock’s 50 day simple moving average is $8.26 and its 200 day simple moving average is $7.51.

SecureWorks (NASDAQ:SCWX) last posted its earnings results 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 company had revenue of $82.18 million during the quarter, compared to the consensus estimate of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. As a group, equities analysts forecast that SecureWorks will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of SecureWorks

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jaffetilchin Investment Partners LLC bought a new stake in SecureWorks in the second quarter worth about $127,000. Oppenheimer Asset Management Inc. raised its holdings in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after purchasing an additional 19,735 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 16,327 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in SecureWorks by 22.3% during the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock worth $1,271,000 after buying an additional 33,100 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new position in shares of SecureWorks in the second quarter valued at $411,000. Institutional investors own 14.38% of the company’s stock.

About SecureWorks

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.