Switch (SWCH) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Switch (NYSE:SWCH) from a hold rating to a buy rating in a research report released on Friday, January 5th. The firm currently has $20.00 target price on the stock.

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. “

Other equities research analysts have also issued reports about the stock. Goldman Sachs Group started coverage on shares of Switch in a report on Tuesday, October 31st. They set a neutral rating on the stock. Wells Fargo & Co started coverage on shares of Switch in a research report on Tuesday, October 31st. They issued a market perform rating on the stock. JPMorgan Chase & Co. started coverage on shares of Switch in a research report on Tuesday, October 31st. They issued an overweight rating and a $22.00 price objective on the stock. BTIG Research started coverage on shares of Switch in a research report on Tuesday, October 31st. They issued a buy rating and a $22.00 price objective on the stock. Finally, William Blair initiated coverage on shares of Switch in a research report on Tuesday, October 31st. They issued an outperform rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Switch has an average rating of Hold and a consensus price target of $21.83.

Shares of Switch (SWCH) traded up $0.20 during mid-day trading on Friday, hitting $16.70. 520,984 shares of the stock traded hands, compared to its average volume of 695,356. Switch has a 52-week low of $15.77 and a 52-week high of $24.90. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.18.

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

The business also recently announced a special dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were given a $0.014 dividend. The ex-dividend date was Friday, December 15th.

A number of large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. acquired a new stake in Switch during the 4th quarter worth $1,486,000. Shikiar Asset Management Inc. acquired a new stake in Switch during the 4th quarter worth $1,157,000. Finally, FNY Managed Accounts LLC acquired a new stake in Switch during the 4th quarter worth $181,000. Hedge funds and other institutional investors own 0.16% 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.

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