Zacks Investment Research Lowers Switch (SWCH) to Hold

Switch (NYSE:SWCH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other research analysts also recently issued reports on the stock. BTIG Research initiated coverage on shares of Switch in a research report on Tuesday, October 31st. They set a “buy” rating and a $22.00 target price on the stock. Credit Suisse Group set a $22.00 target price on shares of Switch and gave the company a “buy” rating in a research report on Thursday, November 30th. JPMorgan Chase & Co. initiated coverage on shares of Switch in a research report on Tuesday, October 31st. They set an “overweight” rating and a $22.00 target price on the stock. BMO Capital Markets started coverage on shares of Switch in a research report on Tuesday, October 31st. They set an “outperform” rating and a $23.00 target price on the stock. Finally, Jefferies Group started coverage on shares of Switch in a research note on Tuesday, October 31st. They set a “hold” rating for the company. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.83.

Switch (NYSE SWCH) traded down $0.23 during trading on Wednesday, hitting $17.76. 370,000 shares of the company were exchanged, compared to its average volume of 851,883. The company has a debt-to-equity ratio of 5.18, a quick ratio of 0.34 and a current ratio of 0.34. Switch has a 52 week low of $15.77 and a 52 week high of $24.90.

Switch (NYSE:SWCH) last released its earnings results on Monday, November 13th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company’s revenue was up 19.6% on a year-over-year basis. equities research analysts expect that Switch will post 0.02 EPS for the current fiscal year.

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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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