Shares of Switch Inc. SWCH, -27.47% are down 26% in Tuesday morning trading after the company reported weaker-than-expected earnings and delivered a disappointing forecast. Several analysts downgraded the stock, including BTIG's Edward Parker, who lowered his rating to neutral from buy. "We believe the company is well positioned to ride secular trends towards high-end [colocations] and that strong new logo additions and low customer churn suggest the long-term story is fundamentally sound," Parker wrote. "However, Switch needs to deliver results consistently in order to regain the investor confidence it has lost over these past two quarters." J.P. Morgan's Richard Choe also downgraded the stock to neutral, writing that his "higher-growth thesis appears to be pushed out and lowered for 2019." Choe lowered his price target to $13 from $17. Switch shares are down 44% so far this year, while the S&P 500 SPX, +0.25% has gained 5.9%.
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