Secureworks (NASDAQ:SCWX) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research lowered shares of Secureworks (NASDAQ:SCWX) from a strong-buy rating to a hold rating in a report issued on Wednesday 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. “

SCWX has been the topic of several other research reports. ValuEngine lowered shares of Secureworks from a buy rating to a hold rating in a research report on Saturday, September 14th. TheStreet lowered shares of Secureworks from a c- rating to a d+ rating in a research report on Wednesday, August 7th. Finally, BidaskClub lowered shares of Secureworks from a hold rating to a sell rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Secureworks presently has an average rating of Hold and an average target price of $15.08.

NASDAQ:SCWX traded up $0.30 during mid-day trading on Wednesday, reaching $12.15. The stock had a trading volume of 69,200 shares, compared to its average volume of 220,356. Secureworks has a 1-year low of $10.37 and a 1-year high of $24.91. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -75.94 and a beta of 1.11. The stock’s 50 day simple moving average is $12.51 and its two-hundred day simple moving average is $13.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.07 and a quick ratio of 1.07.

Secureworks (NASDAQ:SCWX) last announced its earnings results on Thursday, September 5th. The technology company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. Secureworks had a negative return on equity of 1.61% and a negative net margin of 6.38%. The firm had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $133.02 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Secureworks will post -0.3 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC purchased a new position in Secureworks during the 2nd quarter worth approximately $167,000. Swiss National Bank purchased a new position in Secureworks during the 2nd quarter worth approximately $195,000. Rhumbline Advisers grew its position in Secureworks by 6.6% during the 3rd quarter. Rhumbline Advisers now owns 16,213 shares of the technology company’s stock worth $210,000 after purchasing an additional 1,006 shares in the last quarter. Susquehanna International Group LLP grew its position in Secureworks by 284.3% during the 2nd quarter. Susquehanna International Group LLP now owns 20,826 shares of the technology company’s stock worth $277,000 after purchasing an additional 32,126 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in Secureworks by 266.0% during the 2nd quarter. SG Americas Securities LLC now owns 27,269 shares of the technology company’s stock worth $362,000 after purchasing an additional 19,819 shares in the last quarter. Hedge funds and other institutional investors own 9.37% of the company’s stock.

Secureworks Company Profile

SecureWorks Corp., a cybersecurity company, provides an integrated suite of intelligence-driven information security solutions focused on protecting organizations worldwide. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response.

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