SecureWorks (NASDAQ:SCWX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of SecureWorks (NASDAQ:SCWX - Free Report) in a research note issued to investors on Thursday. The brokerage issued a hold rating on the technology company's stock.

A number of other brokerages have also recently commented on SCWX. Barclays raised their price objective on 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 reissued a "hold" rating on shares of SecureWorks in a research note on Tuesday, October 22nd.

SecureWorks Trading Down 0.1 %

NASDAQ SCWX traded down $0.01 during trading hours on Thursday, hitting $8.37. 257,592 shares of the company's stock were exchanged, compared to its average volume of 71,111. The stock has a 50-day simple moving average of $8.01 and a 200 day simple moving average of $7.10. SecureWorks has a 1-year low of $5.45 and a 1-year high of $9.76. The firm has a market cap of $739.93 million, a price-to-earnings ratio of -7.91 and a beta of 0.99.

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

Institutional Investors Weigh In On SecureWorks

Hedge funds have recently added to or reduced their stakes in the company. Brooktree Capital Management boosted its position in shares of 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. Marshall Wace LLP boosted its position in shares of SecureWorks by 11.6% during the second quarter. Marshall Wace LLP now owns 49,997 shares of the technology company's stock valued at $350,000 after buying an additional 5,205 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of 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 boosted its position in shares of 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. Finally, Squarepoint Ops LLC purchased a new position in shares of SecureWorks during the second quarter valued at approximately $121,000. Institutional investors and hedge funds own 14.38% of the company's stock.

About SecureWorks

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.