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

Credit Suisse Group set a $22.00 price target on Switch (NYSE:SWCH) in a report issued on Saturday. The firm currently has a buy rating on the stock.

Several other research analysts also recently commented on SWCH. Goldman Sachs Group started coverage on shares of Switch in a research report on Tuesday, October 31st. They set a neutral rating for the company. Jefferies Group started coverage on shares of Switch in a research report on Tuesday, October 31st. They set a hold rating for the company. J P Morgan Chase & Co started coverage on shares of Switch in a research report on Tuesday, October 31st. They set an overweight rating and a $22.00 price objective for the company. Wells Fargo & Company started coverage on shares of Switch in a research report on Tuesday, October 31st. They set a market perform rating for the company. Finally, Citigroup started coverage on shares of Switch in a research report on Tuesday, October 31st. They set a neutral rating and a $22.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $22.20.

Switch (SWCH) traded up $0.40 during midday trading on Friday, hitting $17.10. 3,956,188 shares of the stock were exchanged, compared to its average volume of 848,393. Switch has a 52 week low of $15.77 and a 52 week high of $24.90. 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 (NYSE:SWCH) last announced its quarterly earnings data on Monday, November 13th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The firm had revenue of $97.70 million for the quarter, compared to analyst estimates of $95.81 million. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. sell-side analysts anticipate that Switch will post 0.02 earnings per share for the current year.

The company also recently disclosed a special dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be given a dividend of $0.014 per share. The ex-dividend date is Friday, December 15th.

In related news, insider Erin Thomas Morton bought 300,000 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were purchased at an average price of $17.00 per share, with a total value of $5,100,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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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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