Analysts expect Secureworks Corp (NASDAQ:SCWX) to report sales of $132.73 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Secureworks’ earnings, with the highest sales estimate coming in at $133.00 million and the lowest estimate coming in at $132.53 million. Secureworks posted sales of $120.65 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10%. The company is expected to report its next earnings report on Wednesday, March 27th.
On average, analysts expect that Secureworks will report full year sales of $520.69 million for the current fiscal year, with estimates ranging from $520.51 million to $521.00 million. For the next year, analysts expect that the firm will report sales of $569.55 million, with estimates ranging from $566.90 million to $572.50 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Secureworks.
Secureworks (NASDAQ:SCWX) last issued its earnings results on Thursday, December 6th. The technology company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.11. The business had revenue of $133.06 million for the quarter, compared to analysts’ expectations of $130.52 million. Secureworks had a negative return on equity of 3.30% and a negative net margin of 3.43%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS.
Several analysts have recently commented on SCWX shares. BidaskClub lowered shares of Secureworks from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 13th. Bank of America set a $11.00 price target on shares of Secureworks and gave the company a “sell” rating in a research report on Saturday, December 8th. Zacks Investment Research raised Secureworks from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research report on Thursday, December 13th. Finally, Morgan Stanley lowered Secureworks from an “overweight” rating to an “equal weight” rating and set a $17.00 target price on the stock. in a research report on Monday, December 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $14.56.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in Secureworks by 59.7% in the fourth quarter. Acadian Asset Management LLC now owns 5,771 shares of the technology company’s stock valued at $97,000 after purchasing an additional 2,157 shares during the period. Sun Life Financial INC increased its position in shares of Secureworks by 136.2% during the fourth quarter. Sun Life Financial INC now owns 7,774 shares of the technology company’s stock worth $131,000 after acquiring an additional 4,483 shares during the period. New York State Common Retirement Fund increased its position in shares of Secureworks by 138.6% during the fourth quarter. New York State Common Retirement Fund now owns 10,500 shares of the technology company’s stock worth $177,000 after acquiring an additional 6,100 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Secureworks during the third quarter worth $178,000. Finally, AXA purchased a new stake in shares of Secureworks during the third quarter worth $193,000. 8.90% of the stock is currently owned by institutional investors.
Shares of SCWX stock traded down $0.53 during trading on Friday, hitting $21.15. 6,926 shares of the stock traded hands, compared to its average volume of 374,027. The firm has a market cap of $1.77 billion, a PE ratio of -46.67 and a beta of 1.15. Secureworks has a 52-week low of $7.83 and a 52-week high of $24.91.
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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