SecureWorks (NASDAQ:SCWX) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a report issued on Saturday morning. The brokerage issued a hold rating on the technology company’s stock.

SCWX has been the topic of a number of other research reports. Barclays raised their price objective on shares of SecureWorks from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research report on Tuesday, October 22nd.

SecureWorks Price Performance

Shares of SecureWorks stock opened at $8.37 on Friday. SecureWorks has a twelve month low of $5.61 and a twelve month high of $9.76. The company’s 50 day moving average is $8.14 and its 200 day moving average is $7.30. The company has a market cap of $743.51 million, a price-to-earnings ratio of -9.85 and a beta of 1.00.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings results on Thursday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $82.18 million for the quarter, compared to the consensus estimate of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. Sell-side analysts expect that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new position in shares of SecureWorks in the second quarter worth approximately $121,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of SecureWorks during the 2nd quarter valued at $127,000. FMR LLC lifted its stake in shares of SecureWorks by 22.3% during the 3rd quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after buying an additional 3,964 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after buying an additional 19,735 shares during the period. Finally, Marshall Wace LLP increased its stake in SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after buying an additional 5,205 shares in the last quarter. 14.38% of the stock is currently owned by institutional investors.

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.