Switch (SWCH) Trading Down 0.4%

Switch Inc (NYSE:SWCH)’s share price was down 0.4% on Tuesday . The company traded as low as $17.15 and last traded at $18.19. Approximately 1,941,900 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 1,407,193 shares. The stock had previously closed at $18.12.

A number of equities analysts have recently weighed in on SWCH shares. Raymond James Financial started coverage on Switch in a report on Tuesday, October 31st. They issued a “market perform” rating on the stock. Jefferies Group started coverage on Switch in a report on Tuesday, October 31st. They issued a “hold” rating on the stock. Credit Suisse Group set a $22.00 target price on Switch and gave the company a “buy” rating in a report on Saturday, December 16th. Citigroup started coverage on Switch in a report on Tuesday, October 31st. They issued a “neutral” rating and a $22.00 target price on the stock. Finally, BMO Capital Markets started coverage on Switch in a report on Tuesday, October 31st. They issued an “outperform” rating and a $23.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Switch presently has an average rating of “Buy” and an average 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 issued its earnings results on Monday, November 13th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $97.70 million during the quarter, compared to analyst estimates of $95.81 million. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. sell-side analysts anticipate that Switch Inc will post 0.02 earnings per share for the current fiscal year.

The company also recently disclosed a special dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a $0.014 dividend. The ex-dividend date was Friday, December 15th.

In other news, insider Erin Thomas Morton acquired 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $5,100,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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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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