SecureWorks’ (SCWX) “Hold” Rating Reiterated at Needham & Company LLC

SecureWorks (NASDAQ:SCWX)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports.

Separately, Barclays upped their price target on SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th.

SecureWorks Stock Down 1.3 %

SCWX stock opened at $8.36 on Tuesday. The business has a 50 day moving average price of $7.86 and a 200 day moving average price of $7.00. The stock has a market cap of $742.62 million, a price-to-earnings ratio of -9.84 and a beta of 0.99. SecureWorks has a fifty-two week low of $5.40 and a fifty-two week high of $9.76.

SecureWorks (NASDAQ:SCWX) last issued its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share 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 firm had revenue of $82.18 million during the quarter, compared to analysts’ expectations of $80.98 million. As a group, sell-side analysts anticipate that SecureWorks will post -0.25 EPS for the current year.

Institutional Investors Weigh In On SecureWorks

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in SecureWorks during the second quarter worth $121,000. Jaffetilchin Investment Partners LLC acquired a new position in SecureWorks during the second quarter worth $127,000. Oppenheimer Asset Management Inc. grew its holdings in SecureWorks by 107.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after acquiring an additional 19,735 shares during the period. Marshall Wace LLP grew its holdings in SecureWorks by 11.6% during the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after acquiring an additional 5,205 shares during the period. Finally, King Luther Capital Management Corp acquired a new position in SecureWorks during the second quarter worth $411,000. Hedge funds and other institutional investors own 14.38% of the company’s stock.

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.