Switch, Inc. (SWCH) Issues Earnings Results

Switch, Inc. (NYSE:SWCH) posted its quarterly earnings data on Monday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01, Briefing.com reports. The firm had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $95.81 million. Switch’s quarterly revenue was up 19.6% on a year-over-year basis.

Switch (NYSE SWCH) opened at $20.03 on Tuesday. Switch has a 12-month low of $18.00 and a 12-month high of $24.90.

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In other Switch news, insider Erin Thomas Morton acquired 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $5,100,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of equities analysts have weighed in on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They issued a “neutral” rating for the company. William Blair assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set an “outperform” rating on the stock. Citigroup Inc. assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set a “neutral” rating and a $22.00 price target on the stock. Wells Fargo & Company assumed coverage on shares of Switch in a research report on Tuesday, October 31st. They set a “market perform” rating on the stock. Finally, 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 target on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Switch currently has a consensus rating of “Buy” and a consensus target price of $22.20.

About Switch

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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