Analysts expect Secureworks Corp (NASDAQ:SCWX) to post $127.72 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Secureworks’ earnings. The lowest sales estimate is $127.52 million and the highest is $128.00 million. Secureworks posted sales of $116.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 10%. The business is expected to announce its next earnings results on Wednesday, September 5th.
On average, analysts expect that Secureworks will report full-year sales of $516.44 million for the current fiscal year, with estimates ranging from $514.00 million to $518.00 million. For the next year, analysts expect that the firm will post sales of $565.67 million per share, with estimates ranging from $558.00 million to $570.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Secureworks.
Secureworks (NASDAQ:SCWX) last posted its quarterly earnings data on Wednesday, June 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Secureworks had a negative net margin of 5.76% and a negative return on equity of 5.19%. The business had revenue of $126.16 million during the quarter, compared to the consensus estimate of $122.48 million. During the same quarter last year, the company posted ($0.07) earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year.
A number of research firms recently issued reports on SCWX. BidaskClub upgraded shares of Secureworks from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. ValuEngine upgraded shares of Secureworks from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. Citigroup lifted their target price on shares of Secureworks from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, June 7th. Stifel Nicolaus lifted their target price on shares of Secureworks from $9.00 to $10.50 and gave the stock a “hold” rating in a research note on Thursday, June 7th. Finally, Zacks Investment Research upgraded shares of Secureworks from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.88.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP boosted its position in shares of Secureworks by 53.0% in the fourth quarter. Two Sigma Investments LP now owns 80,856 shares of the technology company’s stock valued at $717,000 after acquiring an additional 27,995 shares during the period. Deutsche Bank AG boosted its position in shares of Secureworks by 156.9% in the fourth quarter. Deutsche Bank AG now owns 19,307 shares of the technology company’s stock valued at $171,000 after acquiring an additional 11,791 shares during the period. Millennium Management LLC bought a new position in shares of Secureworks in the fourth quarter valued at approximately $371,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Secureworks in the first quarter valued at approximately $259,000. Finally, Spark Investment Management LLC boosted its position in shares of Secureworks by 172.3% in the first quarter. Spark Investment Management LLC now owns 72,700 shares of the technology company’s stock valued at $587,000 after acquiring an additional 46,000 shares during the period. Hedge funds and other institutional investors own 7.39% of the company’s stock.
Secureworks traded down $0.04, reaching $13.09, during trading hours on Tuesday, according to Marketbeat Ratings. 78,462 shares of the company were exchanged, compared to its average volume of 197,824. Secureworks has a 1 year low of $7.83 and a 1 year high of $15.88.
Secureworks Company Profile
SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response. Its solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.
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