SecureWorks (SCWX) Issues Earnings Results, Beats Estimates By $0.03 EPS

SecureWorks (NASDAQ:SCWX) posted its earnings results on Wednesday. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03, reports. The company had revenue of $117.53 million during the quarter, compared to the consensus estimate of $115.67 million. SecureWorks had a negative net margin of 8.97% and a negative return on equity of 3.32%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share.

SecureWorks (NASDAQ SCWX) opened at $9.04 on Thursday. SecureWorks has a 1 year low of $8.25 and a 1 year high of $12.99.

A number of research analysts recently issued reports on SCWX shares. Zacks Investment Research upgraded shares of SecureWorks from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Citigroup restated a “neutral” rating and set a $11.00 target price (up from $10.00) on shares of SecureWorks in a research report on Thursday, September 7th. Royal Bank Of Canada restated an “outperform” rating and set a $15.00 target price (up from $13.00) on shares of SecureWorks in a research report on Tuesday, October 3rd. KeyCorp restated a “buy” rating and set a $15.00 target price on shares of SecureWorks in a research report on Friday, October 6th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of SecureWorks in a research report on Thursday, October 12th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $13.67.

A hedge fund recently raised its stake in SecureWorks stock. State Street Corp grew its position in SecureWorks Corp. (NASDAQ:SCWX) by 13.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,624 shares of the technology company’s stock after acquiring an additional 9,417 shares during the period. State Street Corp owned about 0.10% of SecureWorks worth $731,000 at the end of the most recent quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

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About SecureWorks

Secureworks Corp. is a holding company. The Company provides intelligence-driven information security solutions. The Company is focused on protecting the Company’s clients from cyber-attacks. The Company’s solutions enable companies to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond to security incidents, and predict emerging threats.

Earnings History for SecureWorks (NASDAQ:SCWX)

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