Fintel reports that on September 11, 2023, Morgan Stanley maintained coverage of SecureWorks Corp - (NASDAQ:SCWX) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 28.87% Upside
As of August 31, 2023, the average one-year price target for SecureWorks Corp - is 7.99. The forecasts range from a low of 6.56 to a high of $9.45. The average price target represents an increase of 28.87% from its latest reported closing price of 6.20.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SecureWorks Corp - is 441MM, an increase of 6.51%. The projected annual non-GAAP EPS is -0.71.
What is the Fund Sentiment?
There are 157 funds or institutions reporting positions in SecureWorks Corp -. This is a decrease of 46 owner(s) or 22.66% in the last quarter. Average portfolio weight of all funds dedicated to SCWX is 0.09%, an increase of 19.13%. Total shares owned by institutions decreased in the last three months by 5.70% to 10,215K shares. 
The put/call ratio of SCWX is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
Gagnon Securities holds 1,362K shares representing 1.58% ownership of the company. In it's prior filing, the firm reported owning 1,291K shares, representing an increase of 5.23%. The firm decreased its portfolio allocation in SCWX by 11.93% over the last quarter.
Royce & Associates holds 1,000K shares representing 1.16% ownership of the company. In it's prior filing, the firm reported owning 1,003K shares, representing a decrease of 0.30%. The firm decreased its portfolio allocation in SCWX by 18.41% over the last quarter.
Gagnon Advisors holds 744K shares representing 0.86% ownership of the company. In it's prior filing, the firm reported owning 709K shares, representing an increase of 4.76%. The firm decreased its portfolio allocation in SCWX by 11.70% over the last quarter.
First Eagle Investment Management holds 708K shares representing 0.82% ownership of the company. In it's prior filing, the firm reported owning 472K shares, representing an increase of 33.28%. The firm increased its portfolio allocation in SCWX by 22.23% over the last quarter.
ROFCX - Royce Opportunity Fund Consultant Class holds 641K shares representing 0.74% ownership of the company. In it's prior filing, the firm reported owning 635K shares, representing an increase of 0.89%. The firm decreased its portfolio allocation in SCWX by 16.40% over the last quarter.
SecureWorks Background Information
(This description is provided by the company.)
Secureworks is a global cybersecurity leader that protects customer progress with Secureworks® Taegis™, a cloud-native security analytics platform built on 20+ years of real-world threat intelligence and research, improving customers' ability to detect advanced threats, streamline and collaborate on investigations, and automate the right actions.
Additional reading:
- First Amendment to Sixth Amended and Restated Revolving Credit Agreement, dated as of September 6, 2023, between SecureWorks, Inc. and Dell USA L.P.
- Secureworks® Announces Second Quarter Fiscal 2024 Results
- From: Secureworks CEO Wendy Thomas
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This story originally appeared on Fintel.
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