Switch, Inc. (SWCH) Issues Earnings Results, Beats Expectations By $0.01 EPS

Switch, Inc. (NYSE:SWCH) posted its quarterly earnings results on Monday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01, Briefing.com reports. The business had revenue of $97.70 million during the quarter, compared to the consensus estimate of $95.81 million. The business’s revenue was up 19.6% on a year-over-year basis.

Switch (NYSE SWCH) opened at $18.95 on Wednesday. Switch has a 12-month low of $18.00 and a 12-month high of $24.90.

In related 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, for a total transaction of $5,100,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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A number of equities research analysts recently weighed in on SWCH shares. started coverage on Switch in a research note on Tuesday, October 31st. They issued a “buy” rating and a $22.00 price target on the stock. Jefferies Group LLC started coverage on Switch in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Wells Fargo & Company started coverage on Switch in a research report on Tuesday, October 31st. They set a “market perform” rating on the stock. Raymond James Financial, Inc. started coverage on Switch in a research report on Tuesday, October 31st. They set a “market perform” rating on the stock. Finally, Citigroup Inc. started coverage on Switch in a research report on Tuesday, October 31st. They set a “neutral” rating and a $22.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Switch currently has a consensus rating of “Buy” and an average price target of $22.20.

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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