$130.68 Million in Sales Expected for Secureworks Corp (SCWX) This Quarter

Equities research analysts predict that Secureworks Corp (NASDAQ:SCWX) will announce $130.68 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Secureworks’ earnings. The highest sales estimate is $131.00 million and the lowest is $130.48 million. Secureworks posted sales of $117.53 million in the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The business is expected to report its next quarterly earnings results on Wednesday, December 5th.

On average, analysts expect that Secureworks will report full year sales of $519.46 million for the current fiscal year, with estimates ranging from $519.02 million to $520.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $567.48 million, with estimates ranging from $560.35 million to $575.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Secureworks.

Secureworks (NASDAQ:SCWX) last issued its earnings results on Wednesday, September 5th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. The business had revenue of $128.80 million during the quarter, compared to analysts’ expectations of $127.62 million. Secureworks had a negative return on equity of 4.67% and a negative net margin of 5.13%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS.

Several equities analysts recently commented on SCWX shares. BidaskClub raised Secureworks from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. UBS Group lowered 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 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 Secureworks from $10.50 to $11.50 and gave the stock a “hold” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research lowered Secureworks from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $12.00.

A number of institutional investors have recently added to or reduced their stakes in SCWX. Royce & Associates LP acquired a new position in shares of Secureworks in the 2nd quarter valued at approximately $5,808,000. Renaissance Technologies LLC raised its position in shares of Secureworks by 60.4% in the 2nd quarter. Renaissance Technologies LLC now owns 387,000 shares of the technology company’s stock valued at $4,818,000 after purchasing an additional 145,700 shares in the last quarter. Gagnon Advisors LLC raised its position in shares of Secureworks by 50.6% in the 2nd quarter. Gagnon Advisors LLC now owns 350,335 shares of the technology company’s stock valued at $4,362,000 after purchasing an additional 117,735 shares in the last quarter. Gagnon Securities LLC raised its position in shares of Secureworks by 26.0% in the 2nd quarter. Gagnon Securities LLC now owns 524,963 shares of the technology company’s stock valued at $6,536,000 after purchasing an additional 108,322 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Secureworks by 27.8% in the 2nd quarter. BlackRock Inc. now owns 425,529 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 92,683 shares in the last quarter. 8.76% of the stock is currently owned by hedge funds and other institutional investors.

Secureworks stock opened at $16.63 on Wednesday. The company has a market cap of $1.50 billion, a P/E ratio of -36.96 and a beta of 0.31. Secureworks has a one year low of $7.83 and a one year high of $18.97.

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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