Secureworks (NASDAQ:SCWX) was downgraded by equities research analysts at First Analysis from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports.

Several other research analysts have also weighed in on SCWX. Morgan Stanley increased their target price on Secureworks from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, September 6th. BidaskClub raised Secureworks from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. UBS Group lowered Secureworks from a “neutral” rating to a “sell” rating and set a $11.00 target price on the stock. in a research report on Friday, August 24th. Stifel Nicolaus increased their target price on Secureworks from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research lowered Secureworks from a “buy” rating to a “hold” rating in a research report on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Secureworks currently has an average rating of “Hold” and an average target price of $12.00.

Shares of SCWX stock traded down $0.48 during mid-day trading on Thursday, hitting $17.10. 566,600 shares of the company’s stock were exchanged, compared to its average volume of 121,335. Secureworks has a fifty-two week low of $7.83 and a fifty-two week high of $18.97. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -38.00 and a beta of 0.35.

Secureworks (NASDAQ:SCWX) last posted its quarterly earnings data on Wednesday, September 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.03. Secureworks had a negative return on equity of 4.67% and a negative net margin of 5.13%. The business had revenue of $128.80 million for the quarter, compared to analysts’ expectations of $127.62 million. During the same quarter last year, the firm earned ($0.07) earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts forecast that Secureworks will post -0.34 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Secureworks by 2.1% in the third quarter. Vanguard Group Inc. now owns 765,568 shares of the technology company’s stock valued at $11,216,000 after purchasing an additional 15,442 shares during the period. Royce & Associates LP raised its position in Secureworks by 49.0% in the third quarter. Royce & Associates LP now owns 694,948 shares of the technology company’s stock valued at $10,181,000 after purchasing an additional 228,475 shares during the period. Legal & General Group Plc raised its position in Secureworks by 66,527.0% in the third quarter. Legal & General Group Plc now owns 685,592 shares of the technology company’s stock valued at $10,044,000 after purchasing an additional 684,563 shares during the period. Gagnon Securities LLC raised its position in Secureworks by 8.2% in the third quarter. Gagnon Securities LLC now owns 568,056 shares of the technology company’s stock valued at $8,322,000 after purchasing an additional 43,093 shares during the period. Finally, BlackRock Inc. raised its position in Secureworks by 27.8% in the second quarter. BlackRock Inc. now owns 425,529 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 92,683 shares during the period. 9.56% of the stock is currently owned by institutional investors.

About Secureworks

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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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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