Switch Inc (SWCH) Given Average Recommendation of “Hold” by Brokerages

Switch Inc (NYSE:SWCH) has received a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $21.83.

A number of analysts have commented on the stock. Cowen assumed coverage on shares of Switch in a research report on Friday, January 19th. They set an “underweight” rating on the stock. Credit Suisse Group set a $22.00 price target on shares of Switch and gave the company a “buy” rating in a research report on Wednesday, January 17th. Zacks Investment Research raised shares of Switch from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Thursday, January 11th. Raymond James Financial assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set a “market perform” rating on the stock. Finally, BTIG Research assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set a “buy” rating and a $22.00 price target on the stock.

Shares of Switch (SWCH) opened at $14.95 on Thursday. Switch has a 1-year low of $14.89 and a 1-year 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 posted its quarterly earnings data on Monday, November 13th. The company reported $0.08 earnings per share for the quarter, beating the Zacks’ 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. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. equities analysts predict that Switch will post 0.02 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of SWCH. Schwab Charles Investment Management Inc. bought a new stake in Switch during the fourth quarter valued at $1,486,000. FNY Managed Accounts LLC bought a new position in shares of Switch during the 4th quarter worth about $181,000. Shikiar Asset Management Inc. bought a new position in shares of Switch during the 4th quarter worth about $1,157,000. American Assets Capital Advisers LLC bought a new position in shares of Switch during the 4th quarter worth about $720,000. Finally, Engineers Gate Manager LP bought a new position in shares of Switch during the 4th quarter worth about $2,204,000. 0.24% of the stock is currently owned by institutional investors and hedge funds.

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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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