Today’s big question for investors is, “what’s going on with SecureWorks Corp. (NASDAQ:SCWX) stock? Its price is jumping 0.9 points, trading at $16.77 levels, and is up 5.67% from its previous close of $15.87. The shares seem to have an active trading volume day with a reported 92275 contracts so far this session. SCWX shares had a relatively better volume day versus average trading capacity of 194.55 thousand shares, but with a 7.46 million float and a -5.48% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SCWX stock indicates that the average analyst price target is $14.11 per share. This means the stock has a potential decrease of -15.86% from where the SCWX share price has been trading recently.
During the recent trading session for SecureWorks Corp. (NASDAQ:SCWX), the company witnessed their stock rise $0.19 over a week and surge $2.75 from the price 20 days ago. When compared to their established 52-week high of $24.91, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/02/19. The recent low of $10.37 stood for a -32.68% since 08/14/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.24 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for SecureWorks Corp., the two-week RSI stands at 60.79. This figure suggests that SCWX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current SCWX readings is similarly very revealing as it has a stochastic reading of 33.99% at this stage. This figure means that SCWX share price today is being neutral.
Technical chart claims that SecureWorks Corp. (SCWX) would settle between $16.04/share to $16.22/share level. However, if the stock price goes below the $15.66 mark, then the market for SecureWorks Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $15.46 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.28. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Goldman, assumed coverage of SCWX assigning Sell rating, according to their opinion released on November 12. BofA/Merrill analysts again handed out a Underperform recommendation to SecureWorks Corp. (NASDAQ:SCWX) stock but they lifted target price for the shares in a flash note issued to investors on February 05. The target price has been raised from $10.50 to $12.50. Analysts at BofA/Merrill are sticking to their Underperform stance. However, on December 07, they lifted price target for these shares to $10.50 from $9.
SCWX equity has an average rating of 2.77, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 6 rated the stock as a hold while the remaining 2 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 0 analysts rated SecureWorks Corp. (NASDAQ:SCWX) as a buy or a strong buy while 2 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SCWX stock price is currently trading at 3967.5X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 32.5. SecureWorks Corp. current P/B ratio of 1.9 means it is trading at a discount against its industry’s 10.6.
SecureWorks Corp. (SCWX)’s current-quarter revenues are projected to climb by nearly 6.4% to hit $139120, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 6% from $518710 to a noteworthy $549910. At the other end of the current quarter income statement, SecureWorks Corp. is expected to see its adjusted earnings surge by roughly -150% to hit $-0.01 per share. For the fiscal year, SCWX’s earnings are projected to climb by roughly -250% to hit $-0.03 per share.