Zacks Investment Research Downgrades Switch (SWCH) to Hold

Switch (NYSE:SWCH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, January 10th.

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 analysts have also issued reports on SWCH. Goldman Sachs Group started coverage on Switch in a research note on Tuesday, October 31st. They issued a “neutral” rating on the stock. William Blair started coverage on Switch in a research note on Tuesday, October 31st. They issued an “outperform” rating on the stock. Wells Fargo & Co started coverage on Switch in a research note on Tuesday, October 31st. They issued a “market perform” rating on the stock. Raymond James Financial started coverage on Switch in a research note on Tuesday, October 31st. They issued a “market perform” rating on the stock. Finally, Credit Suisse Group started coverage on Switch in a research note on Tuesday, October 31st. They issued an “outperform” rating and a $22.00 price objective on the stock. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $21.83.

Switch (NYSE:SWCH) traded up $0.15 during mid-day trading on Wednesday, hitting $17.40. The stock had a trading volume of 665,200 shares, compared to its average volume of 761,610. Switch has a 1-year low of $15.77 and a 1-year high of $24.90. The company has a debt-to-equity ratio of 5.18, a current ratio of 0.34 and a quick ratio of 0.34.

Switch (NYSE:SWCH) last released its quarterly earnings data on Monday, November 13th. The company reported $0.08 earnings per share (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 analysts’ expectations of $95.81 million. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. sell-side analysts predict that Switch will post 0.02 EPS for the current year.

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Switch Company Profile

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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