Switch (SWCH) Price Target Raised to $12.00 at JPMorgan Chase & Co.

Switch (NYSE:SWCH) had its price target increased by analysts at JPMorgan Chase & Co. from $10.00 to $12.00 in a research report issued on Friday. JPMorgan Chase & Co.‘s price target indicates a potential upside of 6.10% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Switch from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. BMO Capital Markets reaffirmed a “buy” rating and set a $10.50 price target on shares of Switch in a research note on Tuesday, March 12th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Switch currently has a consensus rating of “Buy” and a consensus target price of $13.45.

SWCH traded up $0.11 during trading on Friday, hitting $11.31. The stock had a trading volume of 1,277,660 shares, compared to its average volume of 881,585. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market capitalization of $2.77 billion, a P/E ratio of 125.67, a P/E/G ratio of 5.33 and a beta of 1.10. Switch has a twelve month low of $6.39 and a twelve month high of $16.04.

Switch (NYSE:SWCH) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $107.03 million during the quarter, compared to analyst estimates of $105.43 million. Switch had a net margin of 0.98% and a return on equity of 1.27%. Sell-side analysts predict that Switch will post 0.18 EPS for the current year.

In related news, Director Donald D. Snyder sold 300,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.42, for a total value of $3,126,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Scott Russell Gragson sold 11,800 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $11.00, for a total transaction of $129,800.00. The disclosure for this sale can be found here. Insiders sold a total of 554,350 shares of company stock worth $5,921,819 over the last quarter. Insiders own 12.64% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SWCH. Sylebra HK Co Ltd lifted its holdings in Switch by 18.1% in the 4th quarter. Sylebra HK Co Ltd now owns 7,956,876 shares of the company’s stock valued at $55,698,000 after purchasing an additional 1,222,215 shares in the last quarter. Vanguard Group Inc lifted its holdings in Switch by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 3,466,693 shares of the company’s stock valued at $37,440,000 after purchasing an additional 111,601 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Switch by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 3,466,693 shares of the company’s stock valued at $37,440,000 after purchasing an additional 111,601 shares in the last quarter. American Assets Capital Advisers LLC lifted its holdings in Switch by 7.9% in the 1st quarter. American Assets Capital Advisers LLC now owns 3,202,410 shares of the company’s stock valued at $33,017,000 after purchasing an additional 234,085 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in Switch by 82.2% in the 1st quarter. US Bancorp DE now owns 2,590,403 shares of the company’s stock valued at $26,707,000 after purchasing an additional 1,168,572 shares in the last quarter. Institutional investors and hedge funds own 19.00% of the company’s stock.

Switch Company Profile

Switch, Inc, through its subsidiary, Switch, Ltd., provides colocation space and related services primarily to technology and digital media companies in the United States. It develops and operates data centers in Nevada and Michigan. The company also serves cloud and managed service providers, financial institutions, IT and software providers, government agencies, network and telecommunications providers, and others that conduct critical business on the Internet.

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Analyst Recommendations for Switch (NYSE:SWCH)

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