Secureworks (NASDAQ:SCWX) Issues Q3 2020 Earnings Guidance

Secureworks (NASDAQ:SCWX) issued an update on its third quarter 2020 earnings guidance on Thursday morning. The company provided EPS guidance of $-0.04–0.03 for the period. The company issued revenue guidance of $135-137 million.Secureworks also updated its FY 2020 guidance to $-0.11–0.08 EPS.

Shares of NASDAQ:SCWX traded up $0.63 on Friday, reaching $14.67. The company had a trading volume of 2,731 shares, compared to its average volume of 87,311. Secureworks has a twelve month low of $10.37 and a twelve month high of $24.91. The stock has a 50-day moving average price of $11.78 and a 200 day moving average price of $15.73. The stock has a market capitalization of $994.82 million, a P/E ratio of -91.94 and a beta of 1.12. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 0.04.

Secureworks (NASDAQ:SCWX) last announced its quarterly earnings results on Thursday, September 5th. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Secureworks had a negative return on equity of 1.51% and a negative net margin of 6.39%. The company had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $133.02 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Secureworks will post -0.34 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the company. TheStreet cut Secureworks from a c- rating to a d+ rating in a research report on Wednesday, August 7th. ValuEngine raised Secureworks from a hold rating to a buy rating in a research report on Thursday. Zacks Investment Research raised Secureworks from a sell rating to a hold rating in a research report on Wednesday, May 29th. Barclays reissued a sell rating and set a $13.00 price objective on shares of Secureworks in a research report on Thursday, June 6th. Finally, BidaskClub raised Secureworks from a strong sell rating to a sell rating in a research report on Saturday, August 31st. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $15.86.

Secureworks Company Profile

SecureWorks Corp., a cybersecurity company, provides an integrated suite of intelligence-driven information security solutions focused on protecting organizations worldwide. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response.

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