Equinix Rating Reiterated by Zacks (EQIX)
Equinix (NASDAQ: EQIX)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Thursday, Stock Ratings Network.com reports. They currently have a $223.00 target price on the stock.
Zacks‘ analyst wrote, “The company’s fourth-quarter results were modest with both revenue and bottom line matching our expectation. Total revenues improved on a year-over-year basis as a result of good contribution from the acquired companies. This apart, the company has a decent cash balance increasing sequentially. Equinix is also experiencing improvement in business fundamentals across most of its business segments, while the capital expenditure fund reflects the company s future growth prospects. On the other hand, the company must work to reduce its debt level. In spite of all the positives, competitive threats from the likes of AT&T Inc. raise our apprehension. European exposure and industry consolidation are the other headwinds. Equinix carries a long term Neutral recommendation.”
Shares of Equinix (NASDAQ: EQIX) traded down 1.96% during mid-day trading on Thursday, hitting $208.61. Equinix has a 52 week low of $146.48 and a 52 week high of $231.26. The stock’s 50-day moving average is currently $213.5. The company has a market cap of $10.181 billion and a P/E ratio of 72.80.
Equinix (NASDAQ: EQIX) last issued its quarterly earnings data on Wednesday, February 13th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.25. The company had revenue of $506.50 million for the quarter, compared to the consensus estimate of $504.57 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, analysts predict that Equinix will post $3.69 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Equinix in a research note to investors on Tuesday. Finally, analysts at FBN Securities initiated coverage on shares of Equinix in a research note to investors on Wednesday, March 20th. They set an “outperform” rating and a $270.00 price target on the stock.
Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $236.06.
Equinix, Inc. (NASDAQ: EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
To view Zacks’ full report, visit www.zacks.com
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