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Equities analysts predict that SecureWorks Corp. (NASDAQ:SCWX – Get Rating) will post sales of $129.03 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for SecureWorks’ earnings. The highest sales estimate is $129.03 million and the lowest is $129.02 million. SecureWorks posted sales of $139.74 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.7%. The firm is expected to issue its next earnings report before the market opens on Thursday, March 17th.
According to Zacks, analysts expect that SecureWorks will report full-year sales of $536.36 million for the current financial year, with estimates ranging from $536.35 million to $536.36 million. For the next year, analysts forecast that the firm will report sales of $544.00 million, with estimates ranging from $536.87 million to $551.13 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for SecureWorks.
SecureWorks (NASDAQ:SCWX – Get Rating) last posted its quarterly earnings data on Thursday, March 17th. The technology company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.11. The business had revenue of $127.90 million for the quarter, compared to analyst estimates of $128.85 million. SecureWorks had a negative return on equity of 2.61% and a negative net margin of 7.41%. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share.
A number of research firms have recently commented on SCWX. Royal Bank of Canada dropped their price objective on SecureWorks from $20.00 to $19.00 and set a “sector perform” rating on the stock in a research note on Friday, December 3rd. TheStreet downgraded SecureWorks from a “c” rating to a “d+” rating in a research report on Thursday, December 2nd. Morgan Stanley lifted their target price on SecureWorks from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Monday, December 6th. Finally, Zacks Investment Research downgraded SecureWorks from a “hold” rating to a “sell” rating in a research report on Thursday, February 3rd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, SecureWorks currently has an average rating of “Hold” and an average target price of $19.25.
SecureWorks stock opened at $11.31 on Friday. The business’s 50-day simple moving average is $14.41 and its 200-day simple moving average is $17.33. The firm has a market capitalization of $952.32 million, a PE ratio of -23.08 and a beta of 0.99. SecureWorks has a 52 week low of $10.54 and a 52 week high of $26.89.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gagnon Securities LLC boosted its holdings in SecureWorks by 25.6% during the third quarter. Gagnon Securities LLC now owns 822,897 shares of the technology company’s stock valued at $16,359,000 after purchasing an additional 167,753 shares in the last quarter. Cove Street Capital LLC boosted its holdings in SecureWorks by 6.9% during the third quarter. Cove Street Capital LLC now owns 730,857 shares of the technology company’s stock valued at $14,530,000 after purchasing an additional 47,117 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in SecureWorks by 41.5% during the third quarter. BNP Paribas Arbitrage SA now owns 254,079 shares of the technology company’s stock valued at $5,051,000 after purchasing an additional 74,511 shares in the last quarter. Geode Capital Management LLC boosted its holdings in SecureWorks by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 231,436 shares of the technology company’s stock valued at $3,696,000 after purchasing an additional 3,405 shares in the last quarter. Finally, Davy Global Fund Management Ltd boosted its holdings in SecureWorks by 264.7% during the fourth quarter. Davy Global Fund Management Ltd now owns 220,213 shares of the technology company’s stock valued at $3,517,000 after purchasing an additional 159,830 shares in the last quarter. 13.37% of the stock is currently owned by institutional investors.
About SecureWorks (Get Rating)
SecureWorks Corp. is a cyber security company, which engages in the provision of information security solutions. The firm’s products include extended detection and response, managed detection and response, and vulnerability management. Its services include managed security, incident response, threat intelligence, security consulting, adversarial security testing.
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