Secureworks (NASDAQ:SCWX) posted its quarterly earnings results on Thursday. The technology company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.11, Briefing.com reports. The firm had revenue of $133.06 million during the quarter, compared to the consensus estimate of $130.52 million. Secureworks had a negative return on equity of 3.31% and a negative net margin of 3.43%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company earned ($0.06) earnings per share.
Shares of NASDAQ SCWX opened at $15.64 on Friday. Secureworks has a 12 month low of $7.83 and a 12 month high of $18.97.
Several hedge funds and other institutional investors have recently modified their holdings of SCWX. Legal & General Group Plc boosted its stake in shares of Secureworks by 66,527.0% during the 3rd quarter. Legal & General Group Plc now owns 685,592 shares of the technology company’s stock worth $10,044,000 after acquiring an additional 684,563 shares during the period. Royce & Associates LP bought a new position in shares of Secureworks during the 2nd quarter worth approximately $5,808,000. Renaissance Technologies LLC boosted its stake in shares of Secureworks by 60.4% during the 2nd quarter. Renaissance Technologies LLC now owns 387,000 shares of the technology company’s stock worth $4,818,000 after acquiring an additional 145,700 shares during the period. Gagnon Advisors LLC boosted its stake in shares of Secureworks by 50.6% during the 2nd quarter. Gagnon Advisors LLC now owns 350,335 shares of the technology company’s stock worth $4,362,000 after acquiring an additional 117,735 shares during the period. Finally, Gagnon Securities LLC boosted its stake in shares of Secureworks by 26.0% during the 2nd quarter. Gagnon Securities LLC now owns 524,963 shares of the technology company’s stock worth $6,536,000 after acquiring an additional 108,322 shares during the period. Institutional investors own 9.56% of the company’s stock.
A number of research analysts have weighed in on SCWX shares. Morgan Stanley raised their price target on Secureworks from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, September 6th. UBS Group downgraded Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 price target for the company. in a research note on Friday, August 24th. BidaskClub upgraded Secureworks from a “hold” rating to a “buy” rating in a research note on Thursday, September 27th. Stifel Nicolaus raised their price target on Secureworks from $10.50 to $11.50 and gave the company a “hold” rating in a research note on Thursday, September 6th. Finally, Bank of America raised their price target on Secureworks from $9.00 to $10.50 and gave the company an “underperform” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $13.33.
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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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