Equinix, Inc. (EQIX) Given Hold Rating at Jefferies Group LLC
Equinix, Inc. (NASDAQ:EQIX)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $440.00 price objective on the financial services provider’s stock. Jefferies Group LLC’s price target would suggest a potential downside of 4.13% from the stock’s current price.
Several other brokerages have also commented on EQIX. Credit Suisse Group started coverage on shares of Equinix in a research note on Friday, June 30th. They set an “outperform” rating and a $510.00 price target on the stock. Macquarie reiterated an “outperform” rating and set a $450.00 price target on shares of Equinix in a research note on Tuesday, July 4th. Royal Bank Of Canada lifted their price target on shares of Equinix from $470.00 to $505.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Cowen and Company reiterated a “buy” rating on shares of Equinix in a research note on Friday, July 21st. Finally, BidaskClub upgraded shares of Equinix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Equinix has an average rating of “Buy” and a consensus target price of $471.94.
Shares of Equinix (NASDAQ EQIX) opened at 458.97 on Thursday. The stock has a market capitalization of $35.77 billion, a price-to-earnings ratio of 168.55 and a beta of 0.55. Equinix has a one year low of $314.55 and a one year high of $475.28. The stock’s 50 day moving average is $454.71 and its 200-day moving average is $435.05.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.41 by $1.18. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. On average, equities research analysts predict that Equinix will post $3.83 EPS for the current fiscal year.
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In other news, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $436.12, for a total value of $436,120.00. Following the sale, the chief financial officer now owns 32,996 shares of the company’s stock, valued at $14,390,215.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Karl Strohmeyer sold 250 shares of Equinix stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $464.96, for a total transaction of $116,240.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,711 shares of company stock worth $4,813,045. Insiders own 0.58% of the company’s stock.
Large investors have recently modified their holdings of the company. Proficio Capital Partners LLC boosted its holdings in shares of Equinix by 1,033.3% in the first quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock valued at $105,000 after acquiring an additional 217 shares in the last quarter. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock valued at $101,000 after acquiring an additional 81 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in shares of Equinix in the second quarter valued at about $127,000. Guardian Life Insurance Co. of America boosted its holdings in shares of Equinix by 9.9% in the first quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 27 shares in the last quarter. Finally, Smithfield Trust Co. boosted its holdings in shares of Equinix by 19.1% in the second quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 54 shares in the last quarter. 94.41% of the stock is currently owned by institutional investors and hedge funds.
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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