Is SecureWorks Corp. (SCWX)’s Fuel Running Low? The Stock Reaches 52 Week Low Today

March 17, 2018 - By wolcottdaily

The stock of SecureWorks Corp. (NASDAQ:SCWX) hit a new 52-week low and has $7.75 target or 7.00 % below today’s $8.33 share price. The 5 months bearish chart indicates high risk for the $679.43 million company. The 1-year low was reported on Mar, 17 by If the $7.75 price target is reached, the company will be worth $47.56 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 14.30% or $1.39 during the last trading session, reaching $8.33. About 1.25M shares traded or 1498.92% up from the average. SecureWorks Corp. (NASDAQ:SCWX) has declined 20.57% since March 17, 2017 and is downtrending. It has underperformed by 37.27% the S&P500.

Analysts await SecureWorks Corp. (NASDAQ:SCWX) to report earnings on March, 28 before the open. They expect $-0.11 EPS, down 175.00 % or $0.07 from last year’s $-0.04 per share. After $-0.08 actual EPS reported by SecureWorks Corp. for the previous quarter, Wall Street now forecasts 37.50 % negative EPS growth.

SecureWorks Corp. (NASDAQ:SCWX) Ratings Coverage

Among 14 analysts covering SecureWorks (NASDAQ:SCWX), 8 have Buy rating, 1 Sell and 5 Hold. Therefore 57% are positive. SecureWorks had 25 analyst reports since May 17, 2016 according to SRatingsIntel. As per Friday, October 13, the company rating was downgraded by Barclays Capital. JP Morgan initiated it with “Overweight” rating and $18 target in Tuesday, May 17 report. The company was maintained on Sunday, September 24 by RBC Capital Markets. The stock of SecureWorks Corp. (NASDAQ:SCWX) earned “Outperform” rating by RBC Capital Markets on Thursday, December 8. As per Thursday, March 30, the company rating was downgraded by Goldman Sachs. The firm has “Outperform” rating given on Tuesday, May 17 by RBC Capital Markets. Goldman Sachs initiated the shares of SCWX in report on Tuesday, May 17 with “Buy” rating. The stock of SecureWorks Corp. (NASDAQ:SCWX) has “Equal-Weight” rating given on Monday, October 24 by First Analysis. Stifel Nicolaus initiated it with “Buy” rating and $18 target in Tuesday, May 17 report. The stock has “Neutral” rating by Credit Suisse on Tuesday, May 17.

SecureWorks Corp. provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks. The company has market cap of $679.43 million. The Company’s solutions enable organizations to fortify their cyber defenses to prevent security breaches, detect malicious activity in real time, prioritize and respond rapidly to security breaches, and predict emerging threats. It currently has negative earnings. As of February 3, 2017, the firm served approximately 4,400 subscription clients across 61 countries.

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