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 security risk consulting services. Its solutions enable organizations to prevent security breaches, detect malicious activity, respond rapidly to security breaches, and identify emerging threats. The company sells its solutions primarily through its direct sales organization, as well as through referral agents, regional value-added resellers, and trade associations. It serves customers in a range of industries, including financial services, manufacturing, technology, retail, insurance, utility, and healthcare sectors. The company was formerly known as SecureWorks Holding Corporation and changed its name to SecureWorks Corp. in November 2015. SecureWorks Corp. was founded in 1999 and is headquartered in Atlanta, Georgia. SecureWorks Corp. operates as a subsidiary of Dell Marketing L.P.
SecureWorks Stock Down 5.1 %
SCWX Stock opened at $9.82 on Friday. SecureWorks has a 52 week low of $9.26 and a 52 week high of $26.89. The company has a fifty day simple moving average of $10.55 and a two-hundred day simple moving average of $12.02. The firm has a market capitalization of $833.33 million, a P/E ratio of -14.88 and a beta of 0.89.
SecureWorks (NASDAQ:SCWX - Get Rating) last released its quarterly earnings data on Thursday, June 2nd. The technology company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.03. SecureWorks had a negative net margin of 10.64% and a negative return on equity of 4.66%. The business had revenue of $121.00 million during the quarter, compared to analyst estimates of $120.90 million. During the same quarter last year, the business earned ($0.01) earnings per share. SecureWorks's quarterly revenue was down 13.3% compared to the same quarter last year. As a group, analysts anticipate that SecureWorks will post -1.02 EPS for the current year.
Wall Street Analysts Forecast Growth
Separately, Morgan Stanley cut their target price on shares of SecureWorks from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, June 3rd. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.80.
Insider Buying and Selling at SecureWorks
In other SecureWorks news, major shareholder Neil Gagnon acquired 22,538 shares of the stock in a transaction on Tuesday, June 21st. The stock was acquired at an average price of $10.63 per share, for a total transaction of $239,578.94. Following the completion of the transaction, the insider now directly owns 590,730 shares of the company's stock, valued at $6,279,459.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 105,788 shares of company stock worth $1,108,865 over the last 90 days. 85.30% of the stock is owned by insiders.