Switch (SWCH) Stock Rating Upgraded by Zacks Investment Research

Switch (NYSE:SWCH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $20.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 15.81% from the stock’s current price.

According to Zacks, “Switch, Inc. is a technology infrastructure company. It designs, constructs and operates hyperscale data centers. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services and content ecosystems. Switch, Inc. is based in LAS VEGAS, United States. “

Several other equities research analysts have also recently weighed in on SWCH. Goldman Sachs Group started coverage on Switch in a research note on Tuesday, October 31st. They issued a “neutral” rating for the company. Jefferies Group assumed coverage on Switch in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. assumed coverage on Switch in a research report on Tuesday, October 31st. They set an “overweight” rating and a $22.00 target price on the stock. Wells Fargo & Co assumed coverage on Switch in a research report on Tuesday, October 31st. They set a “market perform” rating on the stock. Finally, Citigroup assumed coverage on Switch in a research report on Tuesday, October 31st. They set a “neutral” rating and a $22.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Switch currently has a consensus rating of “Buy” and a consensus target price of $21.83.

Shares of Switch (NYSE SWCH) traded down $0.01 during mid-day trading on Friday, hitting $17.27. The stock had a trading volume of 460,700 shares, compared to its average volume of 1,246,367. 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 has a 12 month low of $15.77 and a 12 month high of $24.90.

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

In other Switch news, insider Erin Thomas Morton bought 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The shares were bought at an average price of $17.00 per share, for a total transaction of $5,100,000.00. The purchase was disclosed in a filing with the SEC, which is available through this link.

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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.

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