SecureWorks (NASDAQ:SCWX – Get Rating) released its quarterly earnings results on Thursday. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06, Briefing.com reports. The business had revenue of $121.00 million for the quarter, compared to analysts’ expectations of $120.90 million. SecureWorks had a negative return on equity of 2.38% and a negative net margin of 7.43%. The company’s revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS.
SCWX traded up $0.87 during midday trading on Thursday, reaching $12.50. 904 shares of the company’s stock were exchanged, compared to its average volume of 88,250. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -24.23 and a beta of 1.00. SecureWorks has a one year low of $9.93 and a one year high of $26.89. The business has a 50-day simple moving average of $11.82 and a two-hundred day simple moving average of $14.14.
SCWX has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on SecureWorks from $16.00 to $14.00 and set an “equal weight” 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 report on Thursday, February 3rd. StockNews.com started coverage on SecureWorks in a report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered their target price on SecureWorks from $19.50 to $16.00 and set an “underweight” rating for the company in a report on Friday, March 18th. Finally, The Goldman Sachs Group reduced their price objective on SecureWorks from $14.00 to $12.00 and set a “sell” rating for the company in a research report on Monday, March 21st. Four analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.17.
A number of hedge funds have recently modified their holdings of SCWX. Dynamic Technology Lab Private Ltd acquired a new position in SecureWorks in the 1st quarter valued at about $145,000. Delphia USA Inc. bought a new stake in shares of SecureWorks during the 1st quarter worth approximately $148,000. Barclays PLC increased its position in SecureWorks by 197.0% during the 4th quarter. Barclays PLC now owns 12,116 shares of the technology company’s stock worth $194,000 after purchasing an additional 8,037 shares in the last quarter. Jane Street Group LLC acquired a new position in SecureWorks during the 1st quarter worth approximately $221,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in SecureWorks during the 1st quarter worth approximately $265,000. Hedge funds and other institutional investors own 11.87% of the company’s stock.
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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