SecureWorks (NASDAQ:SCWX) Coverage Initiated at StockNews.com

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

A number of other research firms have also weighed in on SCWX. Barclays lifted their target price on SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Stock Down 0.1 %

NASDAQ SCWX opened at $8.38 on Friday. The firm has a market cap of $744.40 million, a P/E ratio of -9.86 and a beta of 1.00. The company’s 50 day moving average is $8.22 and its 200-day moving average is $7.44. SecureWorks has a 12-month low of $5.61 and a 12-month high of $9.76.

SecureWorks (NASDAQ:SCWX) last issued its earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share (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. Equities analysts expect that SecureWorks will post -0.29 EPS for the current year.

Hedge Funds Weigh In On SecureWorks

A number of institutional investors have recently added to or reduced their stakes in SCWX. King Luther Capital Management Corp bought a new stake in shares of SecureWorks during the 2nd quarter valued at about $411,000. Gladius Capital Management LP bought a new stake in SecureWorks during the third quarter valued at approximately $463,000. Scalar Gauge Management LLC grew its stake in SecureWorks by 16.4% in the 3rd quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company’s stock worth $3,257,000 after buying an additional 51,869 shares in the last quarter. Inspire Investing LLC bought a new position in shares of SecureWorks in the 3rd quarter worth $449,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of SecureWorks during the 3rd quarter valued at $442,000. 14.38% of the stock is currently owned by institutional investors.

SecureWorks Company Profile

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.