Stifel Nicolaus analyst Erik Rasmussen maintained a Buy rating on Switch Inc (NYSE: SWCH) today and set a price target of $13. The company’s shares closed yesterday at $13.98, close to its 52-week low of $11.85.
According to TipRanks.com, Rasmussen is a 2-star analyst with an average return of 3.8% and a 77.8% success rate. Rasmussen covers the Financial sector, focusing on stocks such as QTS Realty Trust, Coresite Realty, and Digital Realty.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Switch Inc with a $17.20 average price target, implying a 23.0% upside from current levels. In a report released yesterday, BMO Capital also maintained a Buy rating on the stock with a $20 price target.
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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 12 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.
