Citigroup Inc assumed coverage on shares of Switch Inc (NASDAQ:SWCH) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $22.00 price target on the stock.
Other equities analysts also recently issued reports about the company. Jefferies Group LLC began coverage on Switch in a report on Tuesday. They issued a hold rating on the stock. Wells Fargo & Company began coverage on Switch in a report on Tuesday. They set a market perform rating on the stock. Goldman Sachs Group, Inc. (The) began coverage on Switch in a report on Tuesday. They set a neutral rating on the stock. Finally, J P Morgan Chase & Co began coverage on Switch in a report on Tuesday. They set an overweight rating and a $22.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Switch currently has a consensus rating of Buy and an average target price of $22.20.
Switch (SWCH) traded down $0.69 during trading on Tuesday, hitting $18.22. The stock had a trading volume of 761,181 shares, compared to its average volume of 4,030,000. Switch has a 52 week low of $18.15 and a 52 week high of $24.90.
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In related news, insider Erin Thomas Morton bought 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 11th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $5,100,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Switch Company Profile
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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