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

Analysts at StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report issued on Sunday. The brokerage set a “hold” rating on the technology company’s stock.

SCWX has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. Barclays lifted their price objective on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th.

SecureWorks Stock Performance

SecureWorks stock opened at $8.37 on Friday. SecureWorks has a one year low of $5.61 and a one year high of $9.76. The stock’s 50 day moving average price is $8.19 and its 200 day moving average price is $7.41. The firm has a market capitalization of $743.51 million, a PE ratio of -9.86 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last posted its earnings results on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The firm had revenue of $82.18 million for the quarter, compared to analyst estimates of $80.98 million. SecureWorks had a negative return on equity of 4.94% and a negative net margin of 21.23%. On average, analysts forecast that SecureWorks will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SecureWorks

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP lifted its position in shares of SecureWorks by 2.5% during the third quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company’s stock worth $11,722,000 after purchasing an additional 32,929 shares during the last quarter. Scalar Gauge Management LLC raised its stake in SecureWorks by 16.4% during the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock valued at $3,257,000 after buying an additional 51,869 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in SecureWorks by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after buying an additional 16,327 shares during the last quarter. Kovack Advisors Inc. grew its position in shares of SecureWorks by 12.7% in the 3rd quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company’s stock worth $2,899,000 after acquiring an additional 36,816 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of SecureWorks by 22.3% in the 2nd quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after acquiring an additional 33,100 shares during the last quarter. 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.