Tiffany Blanc, 17, and Adelina Barjrami, 16, were last seen last early Saturday in Le Locle, the third smallest city in Switzerland, located in the Jura Mountains near La Chaux-de-Fonds and the French border.
Cantonal police said the two girls, both 165 centimetres tall, went missing from the city at around 4am without giving further details.
Blanc is of average build, with long, fine brown hair and brown eyes, police said.
There were dark tints in her hair.
She was wearing black jeans and a brown jacket.
Police described Bajrami as thin, with long, fine dark hair and brown eyes.
She was also wearing black jeans and a brown jacket.
Police ask anyone with information about the missing pair to telephone 032 889 90 00 or to contact the nearest police station.
On Thursday 20 Minutes reported online that the girls had been found outside Switzerland, according to its sources.
The newspaper did not identify the country but Le Locle is close to France.
Police would not immediately confirm the information.