SecureWorks (NASDAQ:SCWX) Shares Gap Down to $26.65

SecureWorks Corp. (NASDAQ:SCWX)’s share price gapped down prior to trading on Friday . The stock had previously closed at $26.65, but opened at $24.95. SecureWorks shares last traded at $21.96, with a volume of 1,570 shares.

Several equities research analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on SecureWorks from $15.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Friday, September 3rd. Barclays increased their price objective on SecureWorks from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, September 3rd. Finally, Zacks Investment Research downgraded SecureWorks from a “buy” rating to a “sell” rating in a research note on Friday, September 10th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Sell” and a consensus price target of $17.67.

The stock has a 50 day moving average price of $20.48 and a two-hundred day moving average price of $17.56. The company has a market capitalization of $1.80 billion, a PE ratio of -55.58 and a beta of 1.13.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings results on Wednesday, September 1st. The technology company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. SecureWorks had a negative return on equity of 1.29% and a negative net margin of 5.64%. The company had revenue of $134.20 million during the quarter, compared to the consensus estimate of $135.02 million. During the same period last year, the business earned $0.10 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. Equities research analysts anticipate that SecureWorks Corp. will post -0.4 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of SecureWorks during the 1st quarter worth about $278,000. Cresset Asset Management LLC acquired a new position in shares of SecureWorks during the 1st quarter valued at about $157,000. Dimensional Fund Advisors LP increased its holdings in shares of SecureWorks by 20.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 61,736 shares of the technology company’s stock valued at $878,000 after acquiring an additional 10,427 shares during the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of SecureWorks during the 1st quarter valued at about $716,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of SecureWorks by 118.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,410 shares of the technology company’s stock valued at $1,990,000 after acquiring an additional 58,247 shares during the last quarter. 10.31% of the stock is owned by institutional investors.

About SecureWorks (NASDAQ:SCWX)

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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