StockNews.com Begins Coverage on SecureWorks (NASDAQ:SCWX)

StockNews.com assumed coverage on shares of SecureWorks (NASDAQ:SCWX) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other equities research analysts have also weighed in on SCWX. Barclays lifted their target price on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Needham & Company LLC reiterated a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Stock Performance

SCWX stock opened at $8.37 on Thursday. The firm’s 50-day moving average price is $8.04 and its two-hundred day moving average price is $7.13. SecureWorks has a 12-month low of $5.55 and a 12-month high of $9.76. The stock has a market capitalization of $743.49 million, a price-to-earnings ratio of -9.85 and a beta of 0.99.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share (EPS) 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. Equities analysts predict that SecureWorks will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. First Eagle Investment Management LLC increased its holdings in SecureWorks by 1.5% during the first quarter. First Eagle Investment Management LLC now owns 891,728 shares of the technology company’s stock valued at $5,992,000 after buying an additional 13,551 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in SecureWorks by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock valued at $2,462,000 after buying an additional 16,327 shares during the last quarter. Scalar Gauge Management LLC increased its holdings in SecureWorks by 18.8% during the second quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock valued at $2,213,000 after buying an additional 50,000 shares during the last quarter. Renaissance Technologies LLC increased its holdings in SecureWorks by 22.3% during the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company’s stock valued at $1,271,000 after buying an additional 33,100 shares during the last quarter. Finally, Brooktree Capital Management increased its holdings in SecureWorks by 1.1% during the first quarter. Brooktree Capital Management now owns 163,910 shares of the technology company’s stock valued at $1,101,000 after buying an additional 1,775 shares during the last quarter. 14.38% of the stock is owned by hedge funds and other 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.