Barclays Reaffirms “Sell” Rating for Secureworks (SCWX)

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Barclays reaffirmed their sell rating on shares of Secureworks (NASDAQ:SCWX) in a report published on Friday. They currently have a $15.00 price target on the technology company’s stock.

A number of other analysts also recently commented on SCWX. UBS Group downgraded shares of Secureworks from a neutral rating to a sell rating and set a $11.00 price target on the stock. in a research report on Friday, August 24th. Morgan Stanley boosted their price target on shares of Secureworks from $14.00 to $15.00 and gave the stock a buy rating in a research report on Thursday, September 6th. Stifel Nicolaus boosted their price target on shares of Secureworks from $10.50 to $11.50 and gave the stock a hold rating in a research report on Thursday, September 6th. BidaskClub upgraded shares of Secureworks from a hold rating to a buy rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research downgraded shares of Secureworks from a buy rating to a hold rating in a research report on Wednesday, November 7th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $13.33.

Shares of SCWX stock traded down $1.46 during midday trading on Friday, reaching $15.64. 398,159 shares of the company were exchanged, compared to its average volume of 187,705. Secureworks has a 12 month low of $7.83 and a 12 month high of $18.97.

Secureworks (NASDAQ:SCWX) last released its quarterly earnings results on Thursday, December 6th. The technology company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.11. Secureworks had a negative net margin of 3.43% and a negative return on equity of 3.31%. The company had revenue of $133.06 million for the quarter, compared to the consensus estimate of $130.52 million. During the same period in the previous year, the firm earned ($0.06) EPS. Secureworks’s revenue was up 13.6% on a year-over-year basis. On average, research analysts expect that Secureworks will post -0.34 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SCWX. Rhumbline Advisers bought a new stake in shares of Secureworks in the 2nd quarter worth approximately $142,000. Citadel Advisors LLC bought a new stake in shares of Secureworks in the 3rd quarter worth approximately $178,000. Engineers Gate Manager LP bought a new stake in shares of Secureworks in the 2nd quarter worth approximately $186,000. AXA bought a new stake in shares of Secureworks in the 3rd quarter worth approximately $193,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Secureworks in the 3rd quarter worth approximately $331,000. Institutional investors and hedge funds own 9.56% of the company’s stock.

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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Analyst Recommendations for Secureworks (NASDAQ:SCWX)

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