Wall Street brokerages forecast that Switch Inc (NYSE:SWCH) will announce sales of $99.55 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Switch’s earnings, with estimates ranging from $98.67 million to $100.66 million. The business is expected to report its next earnings results after the market closes on Thursday, March 29th.
On average, 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 financial year, analysts expect that the firm 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 sell-side research firms that that provide coverage for Switch.
A number of equities research analysts have recently weighed in on the company. Credit Suisse Group set a $22.00 price target on Switch and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Cowen assumed coverage on Switch in a research note on Friday, January 19th. They set an “underweight” rating for the company. Zacks Investment Research raised Switch from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Thursday, January 11th. Raymond James Financial started coverage on Switch in a research note on Tuesday, October 31st. They issued a “market perform” rating on the stock. Finally, BTIG Research started coverage on Switch in a research note on Tuesday, October 31st. They issued a “buy” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.83.
Several hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in shares of Switch in the 4th quarter valued at approximately $121,000. FNY Managed Accounts LLC bought a new position in shares of Switch in the 4th quarter valued at approximately $181,000. Jane Street Group LLC bought a new position in shares of Switch in the 4th quarter valued at approximately $195,000. Two Sigma Advisers LP bought a new position in shares of Switch in the 4th quarter valued at approximately $206,000. Finally, Wolverine Trading LLC bought a new position in shares of Switch in the 4th quarter valued at approximately $218,000. 4.55% of the stock is currently owned by institutional investors and hedge funds.
Switch (NYSE SWCH) traded up $0.02 on Friday, hitting $15.46. The stock had a trading volume of 312,509 shares, compared to its average volume of 744,377. Switch has a 52 week low of $14.06 and a 52 week high of $24.90. The company has a debt-to-equity ratio of 5.18, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market cap of $3,900.00 and a P/E ratio of 110.50.
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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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