SecureWorks Corp. (NASDAQ:SCWX) Given Consensus Rating of “Hold” by Brokerages

SecureWorks Corp. (NASDAQ:SCWXGet Rating) has received an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $16.00.

Several brokerages have issued reports on SCWX. JPMorgan Chase & Co. dropped their target price on shares of SecureWorks from $19.50 to $16.00 and set an “underweight” rating on the stock in a report on Friday, March 18th. Morgan Stanley dropped their target price on shares of SecureWorks from $16.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, March 21st. Zacks Investment Research cut shares of SecureWorks from a “hold” rating to a “sell” rating in a report on Thursday, February 3rd. StockNews.com initiated coverage on shares of SecureWorks in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, The Goldman Sachs Group lowered their price target on shares of SecureWorks from $14.00 to $12.00 and set a “sell” rating on the stock in a report on Monday, March 21st.

In other SecureWorks news, CFO Paul Parrish purchased 5,000 shares of SecureWorks stock in a transaction on Friday, March 18th. The stock was bought at an average cost of $11.19 per share, with a total value of $55,950.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Wendy Thomas purchased 3,000 shares of SecureWorks stock in a transaction on Monday, March 21st. The shares were acquired at an average cost of $11.89 per share, with a total value of $35,670.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 14,000 shares of company stock valued at $158,100 over the last three months. 85.30% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its holdings in shares of SecureWorks by 41.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 254,079 shares of the technology company’s stock valued at $5,051,000 after purchasing an additional 74,511 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of SecureWorks by 5.2% during the 3rd quarter. Renaissance Technologies LLC now owns 28,240 shares of the technology company’s stock valued at $561,000 after purchasing an additional 1,400 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of SecureWorks by 312.0% during the 4th quarter. First Eagle Investment Management LLC now owns 70,081 shares of the technology company’s stock valued at $1,119,000 after purchasing an additional 53,073 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in SecureWorks in the 3rd quarter valued at $994,000. Finally, Panagora Asset Management Inc. acquired a new stake in SecureWorks in the 4th quarter valued at $266,000. 11.87% of the stock is owned by hedge funds and other institutional investors.

SCWX stock opened at $10.56 on Friday. The company has a market capitalization of $892.05 million, a PE ratio of -22.00 and a beta of 1.01. SecureWorks has a 12 month low of $9.93 and a 12 month high of $26.89. The firm’s 50-day moving average is $11.92 and its 200 day moving average is $14.39.

SecureWorks (NASDAQ:SCWXGet Rating) last issued its earnings results on Thursday, March 17th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.13. SecureWorks had a negative net margin of 7.43% and a negative return on equity of 2.38%. The company had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $128.85 million. During the same period in the prior year, the business earned ($0.06) EPS. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, analysts predict that SecureWorks will post -1.01 earnings per share for the current fiscal year.

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.

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