StockNews.com Initiates Coverage on SecureWorks (NASDAQ:SCWX)

StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX) in a report released on Sunday. The firm issued a hold rating on the technology company’s stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd. Barclays increased their price target on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th.

SecureWorks Trading Up 0.4 %

SCWX stock opened at $8.39 on Friday. SecureWorks has a 1-year low of $5.61 and a 1-year high of $9.76. The company’s 50 day moving average is $8.19 and its 200 day moving average is $7.40. The stock has a market cap of $745.28 million, a price-to-earnings ratio of -9.87 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last issued its quarterly 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). SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. The business had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. As a group, sell-side analysts forecast that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Trading of SecureWorks

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of SecureWorks during the second quarter valued at approximately $121,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of SecureWorks during the second quarter valued at approximately $127,000. FMR LLC boosted its stake in shares of SecureWorks by 22.3% during the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after purchasing an additional 3,964 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of SecureWorks by 107.0% during the second 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 period. Finally, Marshall Wace LLP boosted its stake in shares of SecureWorks by 11.6% during the second 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 period. Hedge funds and other 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.