SecureWorks (NASDAQ:SCWX) Stock Rating Reaffirmed by Needham & Company LLC

SecureWorks (NASDAQ:SCWX)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports.

SecureWorks Trading Up 5.8 %

Shares of SCWX opened at $7.79 on Friday. The firm has a market capitalization of $688.64 million, a PE ratio of -7.35 and a beta of 0.99. The stock’s 50 day moving average is $7.38 and its two-hundred day moving average is $6.64. SecureWorks has a twelve month low of $5.40 and a twelve month high of $9.76.

SecureWorks (NASDAQ:SCWX) last posted its quarterly earnings results on Thursday, June 6th. The technology company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. The firm had revenue of $85.65 million for the quarter, compared to the consensus estimate of $83.95 million. SecureWorks had a negative return on equity of 6.01% and a negative net margin of 25.52%. On average, sell-side analysts predict that SecureWorks will post -0.24 EPS for the current year.

Hedge Funds Weigh In On SecureWorks

Institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new stake in shares of SecureWorks in the second quarter valued at about $121,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of SecureWorks in the 2nd quarter worth approximately $127,000. Oppenheimer Asset Management Inc. increased its stake in SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after purchasing an additional 19,735 shares in the last quarter. Marshall Wace LLP raised 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 purchasing an additional 5,205 shares during the last quarter. Finally, King Luther Capital Management Corp purchased a new stake in SecureWorks during the second quarter worth $411,000. 14.38% of the stock is owned by institutional investors and hedge funds.

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.