Switch Inc (SWCH) Coverage Initiated at Jefferies Group LLC
Jefferies Group LLC initiated coverage on shares of Switch Inc (NASDAQ:SWCH) in a report issued on Tuesday, MarketBeat reports. The brokerage issued a hold rating on the stock. Jefferies Group also issued estimates for Switch’s Q3 2017 earnings at $0.07 EPS, Q4 2017 earnings at ($0.21) EPS, FY2017 earnings at ($0.01) EPS, FY2018 earnings at $0.21 EPS and FY2019 earnings at $0.28 EPS.
Separately, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Switch in a report on Tuesday. They set a neutral rating for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Switch has an average rating of Buy and a consensus target price of $22.20.
Switch (NASDAQ SWCH) traded down $0.69 during trading hours on Tuesday, hitting $18.22. 761,181 shares of the stock traded hands, compared to its average volume of 4,030,000. Switch has a 52-week low of $18.15 and a 52-week high of $24.90.
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In other news, insider Erin Thomas Morton bought 300,000 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was purchased at an average cost of $17.00 per share, with a total value of $5,100,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
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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