Switch (SWCH) PT Set at $22.00 by Credit Suisse Group

Switch (NYSE:SWCH) has been assigned a $22.00 price objective by analysts at Credit Suisse Group in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 31.42% from the stock’s previous close.

SWCH has been the topic of several other research reports. Raymond James Financial initiated coverage on Switch in a research report on Tuesday, October 31st. They set a “market perform” rating on the stock. Jefferies Group initiated coverage on Switch in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Zacks Investment Research raised Switch from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Friday, January 5th. Citigroup initiated coverage on Switch in a research report on Tuesday, October 31st. They set a “neutral” rating and a $22.00 price target on the stock. Finally, BMO Capital Markets initiated coverage on Switch in a research report on Tuesday, October 31st. They set an “outperform” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $21.83.

Switch (NYSE:SWCH) traded down $0.28 during midday trading on Wednesday, reaching $16.74. The company’s stock had a trading volume of 1,169,103 shares, compared to its average volume of 705,950. The company has a market cap of $4,230.00 and a PE ratio of 119.57. 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 12-month low of $15.77 and a 12-month high of $24.90.

Switch (NYSE:SWCH) last posted its quarterly earnings results on Monday, November 13th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The company had revenue of $97.70 million for the quarter, compared to analyst estimates of $95.81 million. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. sell-side analysts forecast that Switch will post 0.02 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Switch stock. Schwab Charles Investment Management Inc. bought a new position in shares of Switch Inc (NYSE:SWCH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 81,669 shares of the company’s stock, valued at approximately $1,486,000.

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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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