Switch (SWCH) Upgraded by Zacks Investment Research to “Buy”

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

Several other brokerages have also recently issued reports on SWCH. Jefferies Group initiated coverage on Switch in a research note on Tuesday, October 31st. They set a hold rating on the stock. BTIG Research initiated coverage on Switch in a research report on Tuesday, October 31st. They set a buy rating and a $22.00 price target on the stock. William Blair initiated coverage on Switch in a research report on Tuesday, October 31st. They set an outperform rating on the stock. Credit Suisse Group initiated coverage on Switch in a research report on Tuesday, October 31st. They set an outperform rating and a $22.00 price target on the stock. Finally, Wells Fargo & Co initiated coverage on Switch in a report on Tuesday, October 31st. They issued a market perform rating for the company. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $21.83.

Shares of Switch (NYSE SWCH) traded down $0.01 during midday trading on Friday, hitting $17.25. The stock had a trading volume of 370,700 shares, compared to its average volume of 772,322. Switch has a 52 week low of $15.77 and a 52 week high of $24.90. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 5.18.

Switch (NYSE:SWCH) last released its quarterly earnings results on Monday, November 13th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ 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. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. research analysts anticipate that Switch will post 0.02 EPS for the current fiscal year.

The company also recently declared a special dividend, which was paid on Friday, December 29th. Shareholders of record on Monday, December 18th were paid a dividend of $0.014 per share. The ex-dividend date of this dividend was Friday, December 15th.

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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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Analyst Recommendations for Switch (NYSE:SWCH)

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