SecureWorks Corp. (NASDAQ:SCWX) Expected to Post Quarterly Sales of $121.12 Million

Equities research analysts predict that SecureWorks Corp. (NASDAQ:SCWXGet Rating) will announce sales of $121.12 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SecureWorks’ earnings, with estimates ranging from $121.05 million to $121.18 million. SecureWorks reported sales of $139.46 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 13.2%. The company is scheduled to report its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that SecureWorks will report full-year sales of $485.88 million for the current fiscal year, with estimates ranging from $482.48 million to $489.27 million. For the next financial year, analysts expect that the company will post sales of $515.03 million, with estimates ranging from $501.74 million to $528.32 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover SecureWorks.

SecureWorks (NASDAQ:SCWXGet Rating) last released its earnings results on Thursday, March 17th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.13. The firm had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.85 million. SecureWorks had a negative return on equity of 2.38% and a negative net margin of 7.43%. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.06) earnings per share.

Several research firms have recently weighed in on SCWX. Morgan Stanley reduced their price target on SecureWorks from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 21st. JPMorgan Chase & Co. cut their price objective on SecureWorks from $19.50 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, March 18th. The Goldman Sachs Group dropped their price target on SecureWorks from $14.00 to $12.00 and set a “sell” rating on the stock in a research note on Monday, March 21st. Zacks Investment Research lowered SecureWorks from a “hold” rating to a “sell” rating in a research note on Thursday, February 3rd. Finally, StockNews.com began coverage on SecureWorks in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.17.

NASDAQ:SCWX opened at $10.53 on Friday. The stock has a market cap of $889.51 million, a P/E ratio of -21.94 and a beta of 1.01. The stock’s 50-day moving average is $12.05 and its 200-day moving average is $14.68. SecureWorks has a 1-year low of $9.93 and a 1-year high of $26.89.

In related news, CFO Paul Parrish purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The stock was acquired at an average price of $11.19 per share, for a total transaction of $55,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider George B. Hanna purchased 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The shares were bought at an average price of $11.27 per share, with a total value of $45,080.00. The disclosure for this purchase can be found here. Insiders have bought 14,000 shares of company stock worth $158,100 over the last ninety days. 85.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in SecureWorks during the 4th quarter worth about $28,000. Barclays PLC lifted its holdings in SecureWorks by 223.0% during the 3rd quarter. Barclays PLC now owns 4,079 shares of the technology company’s stock worth $81,000 after purchasing an additional 2,816 shares in the last quarter. SG Americas Securities LLC purchased a new stake in SecureWorks during the 3rd quarter worth about $135,000. FNY Investment Advisers LLC purchased a new stake in shares of SecureWorks in the 1st quarter valued at about $127,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of SecureWorks in the 1st quarter valued at about $145,000. 11.87% of the stock is currently owned by hedge funds and other institutional investors.

About SecureWorks (Get Rating)

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 security risk consulting services.

Read More

Get a free copy of the Zacks research report on SecureWorks (SCWX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for SecureWorks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SecureWorks and related companies with MarketBeat.com's FREE daily email newsletter.