Credit Suisse Group Reiterates $22.00 Price Target for Switch (SWCH)

Credit Suisse Group set a $22.00 price target on Switch (NYSE:SWCH) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the stock.

A number of other analysts have also weighed in on the stock. William Blair reiterated an outperform rating on shares of Switch in a report on Thursday, April 5th. BMO Capital Markets dropped their target price on shares of Switch from $23.00 to $20.00 and set an outperform rating for the company in a report on Tuesday, April 3rd. Raymond James upgraded shares of Switch from a market perform rating to an outperform rating in a report on Monday, March 12th. UBS upgraded shares of Switch from a market perform rating to an outperform rating in a report on Monday, March 12th. Finally, Cowen assumed coverage on shares of Switch in a report on Friday, January 19th. They issued an underweight rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and an average price target of $21.33.

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Switch stock opened at $14.66 on Tuesday. The company has a quick ratio of 4.41, a current ratio of 4.41 and a debt-to-equity ratio of 0.82. Switch has a 1-year low of $13.10 and a 1-year high of $24.90.

Switch (NYSE:SWCH) last posted its earnings results on Monday, April 2nd. The company reported ($0.47) earnings per share for the quarter. The firm had revenue of $99.33 million for the quarter, compared to the consensus estimate of $99.55 million. equities research analysts forecast that Switch will post 0.19 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 23rd. Shareholders of record on Friday, April 13th will be issued a $0.0147 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.06 annualized dividend and a yield of 0.40%.

A number of institutional investors and hedge funds have recently modified their holdings of SWCH. Wells Fargo & Company MN purchased a new stake in Switch in the fourth quarter worth about $76,684,000. BlackRock Inc. purchased a new stake in Switch in the fourth quarter worth about $31,480,000. Deutsche Bank AG purchased a new stake in Switch in the fourth quarter worth about $22,327,000. Alkeon Capital Management LLC purchased a new stake in Switch in the fourth quarter worth about $18,175,000. Finally, Zimmer Partners LP purchased a new stake in Switch in the fourth quarter worth about $17,208,000. Institutional investors and hedge funds own 14.07% of the company’s stock.

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Switch Company Profile

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, government agencies, and telecommunications providers that conduct critical business on the Internet.

Analyst Recommendations for Switch (NYSE:SWCH)

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