Switch (NYSE:SWCH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Switch, Inc. is a technology infrastructure company. It designs, constructs and operates hyperscale data centers. The Company is developer and operator of the SUPERNAP, data center facilities, and provides colocation, telecommunications, cloud services and content ecosystems. Switch, Inc. is based in LAS VEGAS, United States. “

Several other equities research analysts have also recently issued reports on SWCH. Cowen started coverage on Switch in a report on Friday, January 19th. They issued an “underweight” rating on the stock. Credit Suisse Group set a $22.00 price target on Switch and gave the stock a “buy” rating in a research report on Wednesday, February 7th. UBS upgraded Switch from a “market perform” rating to an “outperform” rating in a research report on Monday, March 12th. Raymond James upgraded Switch from a “market perform” rating to an “outperform” rating in a research report on Monday, March 12th. Finally, BMO Capital Markets dropped their price target on Switch from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Tuesday, April 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. Switch currently has a consensus rating of “Hold” and a consensus price target of $20.83.

Shares of SWCH stock opened at $12.99 on Friday. Switch has a 12-month low of $12.87 and a 12-month high of $13.39. The company has a current ratio of 3.37, a quick ratio of 4.41 and a debt-to-equity ratio of 0.80.

Switch (NYSE:SWCH) last issued its earnings results on Monday, May 14th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.03). The firm had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $99.79 million. During the same quarter last year, the business earned $0.10 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. sell-side analysts anticipate that Switch will post 0.18 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN purchased a new position in Switch in the fourth quarter worth about $76,684,000. Engineers Gate Manager LP purchased a new position in Switch in the fourth quarter worth about $2,204,000. BlackRock Inc. purchased a new position in Switch in the fourth quarter worth about $31,480,000. Shikiar Asset Management Inc. purchased a new position in Switch in the fourth quarter worth about $1,157,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in Switch in the fourth quarter worth about $1,486,000. Institutional investors own 14.13% of the company’s stock.

Switch Company Profile

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services to technology and digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers that conduct critical business on the Internet. The company develops and operates data centers in Nevada, Michigan, and Georgia.

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Analyst Recommendations for Switch (NYSE:SWCH)

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