SecureWorks (NASDAQ:SCWX) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of SecureWorks (NASDAQ:SCWX) from a buy rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “SecureWorks Corp. offers intelligence-driven information security solutions focused on protecting from cyber-attacks. The Company’s solutions enable organizations to fortify their cyber defenses to prevent security breaches; detect malicious activity in real time; prioritize and respond rapidly to security breaches and predict emerging threats. Its integrated suite of solutions include managed security, threat intelligence, security and risk consulting as well as incident response. SecureWorks Corp. is based in Atlanta, Georgia. “

Separately, Royal Bank of Canada lifted their price target on shares of SecureWorks from $14.00 to $15.00 and gave the stock a sector perform rating in a report on Friday, June 4th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of Hold and an average price target of $15.40.

NASDAQ SCWX opened at $18.20 on Thursday. The business’s fifty day moving average is $14.08. The company has a market capitalization of $1.51 billion, a PE ratio of -67.41 and a beta of 1.11. SecureWorks has a fifty-two week low of $10.01 and a fifty-two week high of $18.25.

SecureWorks (NASDAQ:SCWX) last posted its earnings results on Wednesday, June 2nd. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.09. The firm had revenue of $139.50 million for the quarter, compared to analysts’ expectations of $135.10 million. SecureWorks had a negative net margin of 3.90% and a negative return on equity of 0.06%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 earnings per share. As a group, research analysts forecast that SecureWorks will post -0.56 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of SCWX. Cove Street Capital LLC lifted its holdings in shares of SecureWorks by 113.2% during the first quarter. Cove Street Capital LLC now owns 549,642 shares of the technology company’s stock worth $7,355,000 after purchasing an additional 291,872 shares during the period. ETF Managers Group LLC lifted its holdings in SecureWorks by 25.6% in the fourth quarter. ETF Managers Group LLC now owns 1,411,682 shares of the technology company’s stock valued at $20,060,000 after buying an additional 287,828 shares during the period. Royce & Associates LP lifted its holdings in SecureWorks by 28.7% in the fourth quarter. Royce & Associates LP now owns 921,432 shares of the technology company’s stock valued at $13,103,000 after buying an additional 205,732 shares during the period. First Trust Advisors LP acquired a new position in SecureWorks in the first quarter valued at $3,519,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in SecureWorks in the first quarter valued at $716,000. Institutional investors own 9.79% of the company’s stock.

SecureWorks Company Profile

SecureWorks Corp. is a cyber security company, which engages in the provision of information security solutions. The firm’s products include extended detection and response, managed detection and response, and vulnerability management. Its services include managed security, incident response, threat intelligence, security consulting, adversarial security testing.

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