Switch, Inc. (SWCH) Trading Up 2.7%
Switch, Inc. (NYSE:SWCH) shares were up 2.7% during trading on Monday . The company traded as high as $20.18 and last traded at $18.95. Approximately 1,069,600 shares traded hands during trading, a decline of 36% from the average daily volume of 1,661,632 shares. The stock had previously closed at $18.46.
A number of research analysts have recently commented on SWCH shares. BTIG Research initiated coverage on Switch in a report on Tuesday, October 31st. They set a “buy” rating and a $22.00 price target for the company. Jefferies Group LLC initiated coverage on Switch in a research note on Tuesday, October 31st. They issued a “hold” rating for the company. Credit Suisse Group initiated coverage on Switch in a research note on Tuesday, October 31st. They issued an “outperform” rating and a $22.00 target price for the company. Raymond James Financial, Inc. initiated coverage on Switch in a research note on Tuesday, October 31st. They issued a “market perform” rating for the company. Finally, BMO Capital Markets initiated coverage on Switch in a research note on Tuesday, October 31st. They issued an “outperform” rating and a $23.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $22.20.
In related news, insider Erin Thomas Morton purchased 300,000 shares of the stock in a transaction on Wednesday, October 11th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $5,100,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
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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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