Brokerages Set Equinix Inc. (EQIX) Price Target at $394.83
Equinix Inc. (NASDAQ:EQIX) has been given a consensus recommendation of “Buy” by the twenty ratings firms that are currently covering the firm. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $394.83.
A number of analysts have issued reports on EQIX shares. Oppenheimer Holdings Inc. raised Equinix from a “market perform” rating to an “outperform” rating and set a $420.00 price objective on the stock in a research note on Tuesday, September 6th. Jefferies Group reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 13th. Pacific Crest reaffirmed a “buy” rating on shares of Equinix in a research note on Wednesday, August 24th. Goldman Sachs Group Inc. started coverage on Equinix in a research note on Tuesday, July 5th. They issued a “buy” rating and a $435.00 price objective on the stock. Finally, SunTrust Banks Inc. started coverage on Equinix in a research note on Thursday, July 21st. They issued a “buy” rating and a $445.00 price objective on the stock.
Shares of Equinix (NASDAQ:EQIX) opened at 361.72 on Friday. Equinix has a 52 week low of $255.45 and a 52 week high of $391.07. The company has a 50-day moving average price of $361.70 and a 200-day moving average price of $358.91. The stock has a market cap of $25.71 billion, a price-to-earnings ratio of 357.08 and a beta of 0.79.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.56 EPS for the quarter, missing the Zacks’ consensus estimate of $3.64 by $3.08. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The business earned $900.50 million during the quarter, compared to analysts’ expectations of $893.99 million. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was up 35.3% on a year-over-year basis. Equities analysts anticipate that Equinix will post $14.93 EPS for the current year.
In related news, insider Eric Schwartz sold 86 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $368.76, for a total transaction of $31,713.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Charles J. Meyers sold 200 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $364.90, for a total value of $72,980.00. Following the sale, the chief operating officer now owns 1,845 shares of the company’s stock, valued at $673,240.50. The disclosure for this sale can be found here. 0.69% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. boosted its stake in shares of Equinix by 11.2% in the first quarter. UBS Asset Management Americas Inc. now owns 151,925 shares of the company’s stock worth $50,244,000 after buying an additional 15,259 shares during the period. Park Avenue Institutional Advisers LLC boosted its stake in shares of Equinix by 7.7% in the first quarter. Park Avenue Institutional Advisers LLC now owns 432 shares of the company’s stock worth $143,000 after buying an additional 31 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Equinix during the first quarter worth $539,000. Rafferty Asset Management LLC boosted its stake in shares of Equinix by 66.3% in the first quarter. Rafferty Asset Management LLC now owns 9,030 shares of the company’s stock worth $2,986,000 after buying an additional 3,601 shares during the period. Finally, State Street Corp boosted its stake in shares of Equinix by 10.2% in the first quarter. State Street Corp now owns 2,746,386 shares of the company’s stock worth $908,250,000 after buying an additional 254,160 shares during the period. Hedge funds and other institutional investors own 99.86% of the company’s stock.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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