Raymond James Sticks to Its Buy Rating for Switch (SWCH)

Raymond James analyst Frank Louthan reiterated a Buy rating on Switch (SWCHResearch Report) today and set a price target of $24.00. The company’s shares closed last Thursday at $15.48.

According to TipRanks.com, Louthan is a 4-star analyst with an average return of 2.8% and a 59.6% success rate. Louthan covers the Technology sector, focusing on stocks such as GTT Communications, Lumen Technologies, and GDS Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Switch with a $21.71 average price target, representing a 42.1% upside. In a report released today, BMO Capital also maintained a Buy rating on the stock with a $21.00 price target.

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Switch’s market cap is currently $3.72B and has a P/E ratio of 124.70. The company has a Price to Book ratio of 15.06.

Based on the recent corporate insider activity of 95 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SWCH in relation to earlier this year.

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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. Its products include Switch CONNECT and Switch SAFE. Switch was founded by Rob Roy in 2000 and is headquartered in Las Vegas, NV.