Notable Price Action: A Reversal for Secureworks Corp Is Not Near. The Stock Reaches Yearly Low Today

Notable Price Action: A Reversal for Secureworks Corp Is Not Near. The Stock Reaches Yearly Low Today

The stock of Secureworks Corp (NASDAQ:SCWX) hit a new 52-week low and has $10.49 target or 6.00% below today’s $11.16 share price. The 8 months bearish chart indicates high risk for the $891.66M company. The 1-year low was reported on Oct, 28 by Barchart.com. If the $10.49 price target is reached, the company will be worth $53.50M 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. About 45,638 shares traded hands. Secureworks Corp (NASDAQ:SCWX) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.

Secureworks Corp (NASDAQ:SCWX) Ratings Coverage

Out of 12 analysts covering SecureWorks (NASDAQ:SCWX), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. SecureWorks has been the topic of 12 analyst reports since May 17, 2016 according to StockzIntelligence Inc. The stock has “Buy” rating given by Bank of America on Tuesday, May 17. The firm has “Outperform” rating given on Tuesday, May 17 by William Blair. Citigroup initiated it with “Neutral” rating and $14 target price in Tuesday, May 17 report. The rating was initiated by RBC Capital Markets on Tuesday, May 17 with “Outperform”. The stock of Secureworks Corp (NASDAQ:SCWX) has “Buy” rating given on Tuesday, May 17 by Stifel Nicolaus. On Tuesday, May 17 the stock rating was initiated by UBS with “Neutral”. JP Morgan initiated the stock with “Overweight” rating in Tuesday, May 17 report. The stock has “Equal-Weight” rating given by First Analysis on Monday, October 24. Goldman Sachs initiated Secureworks Corp (NASDAQ:SCWX) rating on Tuesday, May 17. Goldman Sachs has “Buy” rating and $17.50 price target. The firm earned “Buy” rating on Tuesday, May 17 by SunTrust.

According to Zacks Investment Research, “SecureWorks Corp. offers intelligence-driven information security solutions focused on protecting from cyber-attacks. 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. Its integrated suite of solutions include managed security, threat intelligence, security and risk consulting as well as incident response. SecureWorks Corp. is based in Atlanta, Georgia.”

More important recent Secureworks Corp (NASDAQ:SCWX) news were published by: Reuters.com which released: “SecureWorks raises $112 million in year’s first technology IPO” on April 21, 2016, also Wsj.com published article titled: “Dell’s SecureWorks Aims to Launch IPO in April”, Reuters.com published: “Dell’s SecureWorks valued at $1.42 billion in year’s first tech IPO” on April 11, 2016. More interesting news about Secureworks Corp (NASDAQ:SCWX) was released by: Wsj.com and their article: “SecureWorks Files for IPO” with publication date: December 17, 2015.

SCWX Company Profile

Secureworks Corp. is a well-known provider of intelligence-driven information security solutions focused on protecting its clients from cyber-attacks. 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. The Company’s integrated suite of solutions include managed security, threat intelligence, security and risk consulting, and incident response. The solutions leverage its technologies and processes in the information security industry. The Company’s solutions support the needs of the enterprises staffed with in-house security experts, as well as small and medium-sized businesses and government agencies with limited in-house capabilities and resources. The Firm serves over 4,100 clients in approximately 60 countries. The Company’s intelligence-driven information security solutions prevent, detect, respond to and predict cybersecurity breaches.

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