Brokerages Set Switch, Inc. (SWCH) Target Price at $22.20

Shares of Switch, Inc. (NYSE:SWCH) have earned an average rating of “Buy” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $22.20.

Several equities research analysts have commented on SWCH shares. Goldman Sachs Group started coverage on Switch in a research note on Tuesday, October 31st. They set a “neutral” rating for the company. Jefferies Group initiated coverage on Switch in a research note on Tuesday, October 31st. They set a “hold” rating for the company. J P Morgan Chase & Co initiated coverage on Switch in a research note on Tuesday, October 31st. They issued an “overweight” rating and a $22.00 target price for the company. Wells Fargo & Company initiated coverage on Switch in a research note on Tuesday, October 31st. They issued a “market perform” rating for the company. Finally, Citigroup initiated coverage on Switch in a research note on Tuesday, October 31st. They issued a “neutral” rating and a $22.00 target price for the company.

In other Switch news, insider Erin Thomas Morton purchased 300,000 shares of Switch stock in a transaction that occurred on Wednesday, October 11th. The stock was purchased at an average price of $17.00 per share, with a total value of $5,100,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Switch (NYSE:SWCH) traded down $0.24 during trading on Friday, reaching $17.63. The company had a trading volume of 1,255,200 shares, compared to its average volume of 1,578,660. Switch has a 52-week low of $17.30 and a 52-week high of $24.90. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.18.

Switch (NYSE:SWCH) last released its earnings results on Monday, November 13th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The business had revenue of $97.70 million during the quarter, compared to analyst estimates of $95.81 million. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. research analysts predict that Switch will post 0.02 EPS for the current year.

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About Switch

Switch, Inc is a technology infrastructure company. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services, and content ecosystems. The Company designs, constructs and operates hyperscale data centers that address the growing challenges facing the data center industry.

Analyst Recommendations for Switch (NYSE:SWCH)

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