© Reuters. Barclays downgrades SecureWorks on key metrics; shares -7%
- Barclays (LON:BARC) downgrades SecureWorks (NASDAQ:SCWX) from Equal Weight to Underweight with a $11 price target.
- The firm cites the loss of SecureWorks’ sales head, reexamined valuation transition to EV/EBITDA, and weak key metrics like revenue retention despite health in the managed security services market.
- SecureWorks shares are down 7.06%.
- Previously: Secureworks chief revenue officer is out (Oct. 11)
- Now read: Is Palo Alto Networks Getting Ready For An Acquisition Spree?