Switch (SWCH) Given a $22.00 Price Target at Credit Suisse Group

Switch (NYSE:SWCH) has been given a $22.00 price target by equities research analysts at Credit Suisse Group in a research report issued on Wednesday. The brokerage currently has a “buy” rating on the stock. Credit Suisse Group’s target price suggests a potential upside of 48.35% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. BTIG Research initiated coverage on Switch in a report on Tuesday, October 31st. They issued a “buy” rating and a $22.00 price target for the company. Zacks Investment Research raised Switch from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, January 5th. JPMorgan Chase & Co. initiated coverage on Switch in a report on Tuesday, October 31st. They issued an “overweight” rating and a $22.00 price target for the company. BMO Capital Markets initiated coverage on Switch in a report on Tuesday, October 31st. They issued an “outperform” rating and a $23.00 price target for the company. Finally, Jefferies Group initiated coverage on Switch in a report on Tuesday, October 31st. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Switch currently has a consensus rating of “Hold” and a consensus price target of $21.83.

Shares of Switch (SWCH) traded down $0.12 during midday trading on Wednesday, reaching $14.83. The company’s stock had a trading volume of 660,513 shares, compared to its average volume of 747,508. The company has a debt-to-equity ratio of 5.18, a current ratio of 0.34 and a quick ratio of 0.34. Switch has a fifty-two week low of $14.81 and a fifty-two week 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, topping the 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. Switch’s revenue was up 19.6% compared to the same quarter last year. equities analysts anticipate that Switch will post 0.02 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new position in shares of Switch in the fourth quarter worth about $121,000. FNY Managed Accounts LLC purchased a new position in shares of Switch in the fourth quarter worth about $181,000. California Public Employees Retirement System purchased a new position in shares of Switch in the fourth quarter worth about $273,000. Advisory Research Inc. purchased a new position in shares of Switch in the fourth quarter worth about $305,000. Finally, Buckley Wealth Management LLC purchased a new position in shares of Switch in the fourth quarter worth about $692,000. Hedge funds and other institutional investors own 0.24% of the company’s stock.

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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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