Switch (SWCH) Hits New 1-Year Low at $17.29
Switch, Inc. (NYSE:SWCH)’s share price reached a new 52-week low on Wednesday . The company traded as low as $17.29 and last traded at $17.68, with a volume of 733900 shares traded. The stock had previously closed at $17.63.
A number of equities analysts have weighed in on the stock. Credit Suisse Group set a $22.00 price target on shares of Switch and gave the stock a “buy” rating in a research report on Thursday. Raymond James Financial began coverage on shares of Switch in a report on Tuesday, October 31st. They issued a “market perform” rating on the stock. BTIG Research began coverage on shares of Switch in a report on Tuesday, October 31st. They issued a “buy” rating and a $22.00 target price on the stock. William Blair began coverage on shares of Switch in a report on Tuesday, October 31st. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets began coverage on shares of Switch in a report on Tuesday, October 31st. They issued an “outperform” rating and a $23.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Switch has an average rating of “Buy” and a consensus price target of $22.20.
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 earnings results on Monday, November 13th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The company had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $95.81 million. Switch’s revenue was up 19.6% compared to the same quarter last year. equities analysts forecast that Switch, Inc. will post 0.02 EPS for the current year.
In other Switch news, insider Erin Thomas Morton purchased 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were bought at an average price of $17.00 per share, with a total value of $5,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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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