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

StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX - Get Free Report) in a research report issued to clients and investors on Saturday. The brokerage set a "hold" rating on the technology company's stock.

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

SecureWorks Price Performance

NASDAQ SCWX remained flat at $8.37 during trading hours on Friday. The company had a trading volume of 121,363 shares, compared to its average volume of 76,235. SecureWorks has a 52-week low of $5.61 and a 52-week high of $9.76. The stock has a market cap of $743.51 million, a P/E ratio of -9.85 and a beta of 1.00. The business's fifty day moving average is $8.14 and its 200 day moving average is $7.30.

SecureWorks (NASDAQ:SCWX - Get Free Report) last posted 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). 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. As a group, equities analysts predict that SecureWorks will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Royce & Associates LP grew its stake in shares of SecureWorks by 2.5% during the third quarter. Royce & Associates LP now owns 1,324,543 shares of the technology company's stock valued at $11,722,000 after purchasing an additional 32,929 shares during the last quarter. Scalar Gauge Management LLC raised its holdings in SecureWorks by 16.4% in the third quarter. Scalar Gauge Management LLC now owns 368,006 shares of the technology company's stock worth $3,257,000 after purchasing an additional 51,869 shares during the period. Dimensional Fund Advisors LP raised its holdings in SecureWorks by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company's stock worth $2,462,000 after purchasing an additional 16,327 shares during the period. Kovack Advisors Inc. increased its position in shares of SecureWorks by 12.7% during the third quarter. Kovack Advisors Inc. now owns 327,516 shares of the technology company's stock worth $2,899,000 after acquiring an additional 36,816 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of SecureWorks by 22.3% during the second quarter. Renaissance Technologies LLC now owns 181,540 shares of the technology company's stock worth $1,271,000 after acquiring an additional 33,100 shares in the last quarter. 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.