Credit Suisse Group set a $18.00 target price on Switch (NYSE:SWCH) in a research note published on Wednesday, TipRanks reports. The brokerage currently has a buy rating on the stock.
A number of other analysts have also recently commented on SWCH. Zacks Investment Research cut shares of Switch from a buy rating to a hold rating in a report on Tuesday, August 13th. ValuEngine cut shares of Switch from a hold rating to a sell rating in a report on Wednesday, October 2nd. Finally, BMO Capital Markets upped their target price on shares of Switch from $15.00 to $17.00 and gave the company an outperform rating in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $13.28.
Shares of SWCH stock opened at $15.56 on Wednesday. Switch has a 12 month low of $6.39 and a 12 month high of $16.95. The stock has a market cap of $3.81 billion, a P/E ratio of 172.89, a P/E/G ratio of 10.72 and a beta of 0.52. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.87. The company has a 50 day simple moving average of $15.98 and a two-hundred day simple moving average of $13.35.
Switch (NYSE:SWCH) last announced its earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). Switch had a net margin of 1.05% and a return on equity of 2.60%. The business had revenue of $111.59 million for the quarter, compared to analysts’ expectations of $109.47 million. During the same period in the prior year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities analysts forecast that Switch will post 0.13 earnings per share for the current year.
In other Switch news, Director Thomas A. Thomas sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $15.46, for a total value of $927,600.00. Also, major shareholder William Gonsalves Balelo sold 583,343 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $16.30, for a total transaction of $9,508,490.90. The disclosure for this sale can be found here. 28.39% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SWCH. NumerixS Investment Technologies Inc bought a new position in shares of Switch in the first quarter worth approximately $90,000. Marshall Wace LLP boosted its position in shares of Switch by 185.0% in the first quarter. Marshall Wace LLP now owns 47,598 shares of the company’s stock worth $491,000 after purchasing an additional 30,895 shares during the period. WealthPLAN Partners LLC boosted its position in shares of Switch by 321.8% in the first quarter. WealthPLAN Partners LLC now owns 52,048 shares of the company’s stock worth $638,000 after purchasing an additional 39,708 shares during the period. Falcon Point Capital LLC boosted its position in shares of Switch by 44.4% in the second quarter. Falcon Point Capital LLC now owns 278,995 shares of the company’s stock worth $3,652,000 after purchasing an additional 85,729 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of Switch in the second quarter worth approximately $161,000. Institutional investors and hedge funds own 21.30% of the company’s stock.
Switch Company Profile
Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services primarily to technology and digital media companies in the United States. It develops and operates data centers in Nevada and Michigan. The company also serves cloud and managed service providers, financial institutions, IT and software providers, government agencies, network and telecommunications providers, and others that conduct critical business on the Internet.
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