Credit Suisse Group Boosts Switch (NYSE:SWCH) Price Target to $21.00
Switch (NYSE:SWCH) had its price objective lifted by Credit Suisse Group from $19.00 to $21.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the stock. Credit Suisse Group’s price target suggests a potential upside of 23.09% from the stock’s current price.
Separately, Zacks Investment Research downgraded shares of Switch from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th.
Shares of NYSE:SWCH opened at $17.06 on Wednesday. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 189.56, a price-to-earnings-growth ratio of 5.60 and a beta of 0.48. The company has a 50-day moving average price of $15.81 and a 200-day moving average price of $15.42. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.98. Switch has a 12 month low of $7.95 and a 12 month high of $17.74.
Hedge funds have recently added to or reduced their stakes in the stock. NEXT Financial Group Inc bought a new position in Switch in the third quarter worth about $35,000. Great West Life Assurance Co. Can raised its stake in Switch by 82.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 3,684 shares of the company’s stock worth $54,000 after buying an additional 1,668 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in Switch by 56.1% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,320 shares of the company’s stock worth $67,000 after buying an additional 1,553 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Switch in the fourth quarter worth about $69,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Switch by 175.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,920 shares of the company’s stock worth $77,000 after buying an additional 3,131 shares in the last quarter. 24.07% of the stock is owned by institutional investors.
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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