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

Needham & Company LLC reissued their hold rating on shares of SecureWorks (NASDAQ:SCWX) in a report released on Tuesday morning, Benzinga reports.

Separately, Barclays lifted 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.

SecureWorks Price Performance

Shares of NASDAQ SCWX opened at $8.37 on Tuesday. SecureWorks has a 1-year low of $5.40 and a 1-year high of $9.76. The business has a fifty day moving average price of $7.94 and a 200 day moving average price of $7.05. The stock has a market capitalization of $739.93 million, a P/E ratio of -7.90 and a beta of 0.99.

SecureWorks (NASDAQ:SCWX) last issued its earnings results on Thursday, September 5th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business 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%. As a group, equities research analysts anticipate that SecureWorks will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Marshall Wace LLP increased its position in shares of SecureWorks by 11.6% during the 2nd 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 in the last quarter. Kovack Advisors Inc. raised its holdings in SecureWorks by 55.4% during the 1st quarter. Kovack Advisors Inc. now owns 207,400 shares of the technology company’s stock worth $1,394,000 after buying an additional 73,900 shares during the period. Scalar Gauge Management LLC lifted its position in shares of SecureWorks by 18.8% in the second quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock worth $2,213,000 after purchasing an additional 50,000 shares in the last quarter. Dimensional Fund Advisors LP raised 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 worth $2,462,000 after acquiring an additional 16,327 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in SecureWorks by 107.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock worth $267,000 after purchasing an additional 19,735 shares during the period. 14.38% of the stock is owned by institutional investors and hedge funds.

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.