SecureWorks (NASDAQ:SCWX) Earns Hold Rating from Analysts at StockNews.com

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

A number of other analysts also recently weighed in on SCWX. Barclays boosted their target price on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a report on Tuesday, October 22nd.

SecureWorks Stock Performance

Shares of NASDAQ SCWX opened at $8.37 on Thursday. The company has a market cap of $743.49 million, a P/E ratio of -9.85 and a beta of 0.99. The firm’s fifty day moving average is $8.04 and its two-hundred day moving average is $7.13. SecureWorks has a 52-week low of $5.55 and a 52-week high of $9.76.

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

Hedge Funds Weigh In On SecureWorks

Hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in SecureWorks during the 2nd quarter valued at about $121,000. Jaffetilchin Investment Partners LLC bought a new position in SecureWorks during the 2nd quarter valued at about $127,000. Oppenheimer Asset Management Inc. grew its holdings in SecureWorks by 107.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after purchasing an additional 19,735 shares during the last quarter. Marshall Wace LLP grew its holdings in SecureWorks by 11.6% during the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock valued at $350,000 after purchasing an additional 5,205 shares during the last quarter. Finally, Inspire Investing LLC bought a new position in SecureWorks during the 3rd quarter valued at about $449,000. 14.38% of the stock is currently owned by institutional investors.

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.