Switch, Inc. (SWCH) Reaches New 1-Year Low at $17.87

Shares of Switch, Inc. (NYSE:SWCH) reached a new 52-week low during trading on Wednesday . The stock traded as low as $17.87 and last traded at $18.07, with a volume of 790800 shares traded. The stock had previously closed at $18.30.

A number of analysts have issued reports on the stock. Raymond James Financial, Inc. assumed coverage on shares of Switch in a research note on Tuesday, October 31st. They issued a “market perform” rating for the company. BTIG Research assumed coverage on shares of Switch in a research note on Tuesday, October 31st. They issued a “buy” rating and a $22.00 target price for the company. William Blair assumed coverage on shares of Switch in a research note on Tuesday, October 31st. They issued an “outperform” rating for the company. Credit Suisse Group assumed coverage on shares of Switch in a research note on Tuesday, October 31st. They issued an “outperform” rating and a $22.00 target price for the company. Finally, BMO Capital Markets assumed coverage on shares of Switch in a research note on Tuesday, October 31st. They issued an “outperform” rating and a $23.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Switch currently has an average rating of “Buy” and a consensus target price 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 quarterly earnings results on Monday, November 13th. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. The firm had revenue of $97.70 million during the quarter, compared to the consensus estimate of $95.81 million. Switch’s revenue for the quarter was up 19.6% compared to the same quarter last year. research analysts predict that Switch, Inc. will post 0.02 earnings per share for the current year.

In other news, insider Erin Thomas Morton purchased 300,000 shares of the company’s stock in a transaction dated 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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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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