Switch Inc (SWCH) Expected to Post Quarterly Sales of $99.55 Million
Brokerages forecast that Switch Inc (NYSE:SWCH) will post sales of $99.55 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Switch’s earnings, with the lowest sales estimate coming in at $98.67 million and the highest estimate coming in at $100.66 million. The business is expected to report its next quarterly earnings report after the market closes on Thursday, March 29th.
According to Zacks, analysts expect that Switch will report full year sales of $99.55 million for the current financial year, with estimates ranging from $377.61 million to $378.97 million. For the next year, analysts expect that the business will post sales of $433.28 million per share, with estimates ranging from $429.59 million to $436.83 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Switch.
A number of analysts recently commented on SWCH shares. Credit Suisse Group set a $22.00 target price on shares of Switch and gave the stock a “buy” rating in a report on Wednesday, February 7th. Cowen started coverage on shares of Switch in a report on Friday, January 19th. They issued an “underweight” rating on the stock. Finally, Zacks Investment Research upgraded shares of Switch from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $21.83.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWCH. Schwab Charles Investment Management Inc. bought a new stake in shares of Switch in the 4th quarter worth approximately $1,486,000. FNY Managed Accounts LLC purchased a new position in shares of Switch in the fourth quarter worth approximately $181,000. Shikiar Asset Management Inc. purchased a new position in shares of Switch in the fourth quarter worth approximately $1,157,000. American Assets Capital Advisers LLC purchased a new position in shares of Switch in the fourth quarter worth approximately $720,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Switch in the fourth quarter worth approximately $2,204,000. Institutional investors and hedge funds own 4.55% of the company’s stock.
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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