In a report issued on August 13, Colby Synesael from Cowen & Co. reiterated a Hold rating on Switch Inc (NYSE: SWCH), with a price target of $11.50. The company’s shares opened today at $10.44, close to its 52-week low of $10.
According to TipRanks.com, Synesael is a top 100 analyst with an average return of 17.2% and a 82.6% success rate. Synesael covers the Technology sector, focusing on stocks such as Interxion Holding NV, Cogent Comms, and Crown Castle.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Switch Inc with a $12.70 average price target, representing a 21.6% upside. In a report issued on August 14, Raymond James also downgraded the stock to Hold.
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Based on Switch Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $821K. In comparison, last year the company had a net profit of $14.95 million.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock.
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Switch, Inc. (Nevada) engages in the provision of technology infrastructure. It specializes in the development of digital platforms for digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers. It operates through the following segments: Colocation, Connectivity, and Other.
