Needham & Company LLC Reaffirms Hold Rating for SecureWorks (NASDAQ:SCWX)

SecureWorks (NASDAQ:SCWX - Get Free Report)'s stock had its "hold" rating reissued by equities research analysts at Needham & Company LLC in a report released on Tuesday, Benzinga reports.

Separately, Barclays lifted their price objective on SecureWorks from $6.00 to $7.00 and gave the stock an "underweight" rating in a research report on Friday, September 6th.

SecureWorks Stock Performance

SecureWorks stock traded up $0.04 during mid-day trading on Tuesday, hitting $8.40. The company's stock had a trading volume of 1,443,954 shares, compared to its average volume of 58,744. SecureWorks has a one year low of $5.40 and a one year high of $9.76. The stock has a market cap of $746.17 million, a PE ratio of -9.88 and a beta of 0.99. The company has a 50 day moving average of $7.89 and a 200-day moving average of $7.01.

SecureWorks (NASDAQ:SCWX - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The firm had revenue of $82.18 million during the quarter, compared to analyst estimates of $80.98 million. SecureWorks had a negative net margin of 21.23% and a negative return on equity of 4.94%. On average, equities research analysts forecast that SecureWorks will post -0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Inspire Investing LLC bought a new position in shares of SecureWorks during the third quarter worth about $449,000. Squarepoint Ops LLC acquired a new stake in shares of SecureWorks during the 2nd quarter valued at $121,000. Scalar Gauge Management LLC boosted its stake in shares of SecureWorks by 18.8% during the 2nd 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 period. Marshall Wace LLP lifted its stake in shares of SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company's stock valued at $350,000 after purchasing an additional 5,205 shares during the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in shares of SecureWorks in the second quarter valued at about $411,000. Hedge funds and other institutional investors own 14.38% of the company's stock.

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.