Somewhat Positive Press Coverage Somewhat Unlikely to Impact Switch (SWCH) Stock Price
News stories about Switch (NYSE:SWCH) have been trending somewhat positive recently, Accern Sentiment Analysis reports. The research group identifies positive and negative media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Switch earned a coverage optimism score of 0.22 on Accern’s scale. Accern also gave media stories about the company an impact score of 46.7176901730857 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Switch (NYSE SWCH) traded up $0.09 during trading hours on Wednesday, hitting $17.10. 1,155,934 shares of the stock were exchanged, compared to its average volume of 1,433,813. The company has a debt-to-equity ratio of 5.18, a quick ratio of 0.34 and a current ratio of 0.34. Switch has a fifty-two week low of $15.77 and a fifty-two week high of $24.90.
Switch (NYSE:SWCH) last posted its quarterly earnings results on Monday, November 13th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. The company had revenue of $97.70 million for the quarter, compared to analyst estimates of $95.81 million. The firm’s revenue was up 19.6% on a year-over-year basis. equities research analysts expect that Switch will post 0.02 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. Raymond James Financial assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set a “market perform” rating for the company. Goldman Sachs Group assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set a “neutral” rating for the company. Citigroup assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set a “neutral” rating and a $22.00 price objective for the company. J P Morgan Chase & Co assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set an “overweight” rating and a $22.00 price objective for the company. Finally, BMO Capital Markets assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set an “outperform” rating and a $23.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.20.
In related news, insider Erin Thomas Morton purchased 300,000 shares of the stock in a transaction dated Wednesday, October 11th. The shares were acquired at an average cost of $17.00 per share, with a total value of $5,100,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
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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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