Brokerages Set SecureWorks Corp. (SCWX) Price Target at $13.11

SecureWorks Corp. (NASDAQ:SCWX) has been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $13.11.

SCWX has been the topic of a number of analyst reports. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of SecureWorks in a report on Thursday, October 12th. KeyCorp reaffirmed a “buy” rating and issued a $15.00 price objective on shares of SecureWorks in a report on Friday, October 6th. Royal Bank of Canada reaffirmed a “buy” rating on shares of SecureWorks in a report on Tuesday, November 7th. Zacks Investment Research raised SecureWorks from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Tuesday, December 12th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $11.00 price objective (up previously from $10.00) on shares of SecureWorks in a report on Thursday, September 7th.

Shares of SecureWorks (SCWX) traded up $0.33 during mid-day trading on Thursday, reaching $10.08. The company had a trading volume of 423,135 shares, compared to its average volume of 125,873. SecureWorks has a 1 year low of $8.10 and a 1 year high of $12.99.

SecureWorks (NASDAQ:SCWX) last announced its quarterly earnings data on Wednesday, December 6th. The technology company reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. SecureWorks had a negative return on equity of 3.95% and a negative net margin of 9.60%. The company had revenue of $117.53 million for the quarter, compared to analyst estimates of $115.67 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. equities analysts expect that SecureWorks will post -0.43 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of SecureWorks during the 3rd quarter worth approximately $111,000. Teachers Advisors LLC boosted its stake in shares of SecureWorks by 32.2% during the 2nd quarter. Teachers Advisors LLC now owns 12,872 shares of the technology company’s stock worth $120,000 after acquiring an additional 3,135 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of SecureWorks by 8.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,844 shares of the technology company’s stock worth $129,000 after acquiring an additional 1,022 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of SecureWorks by 15.3% during the 2nd quarter. California State Teachers Retirement System now owns 14,314 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of SecureWorks during the 1st quarter worth approximately $133,000. 7.96% of the stock is currently owned by institutional investors and hedge funds.

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SecureWorks Company Profile

Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies 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.

Analyst Recommendations for SecureWorks (NASDAQ:SCWX)

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