Equinix, Inc. (EQIX) Lifted to “Overweight” at Barclays PLC
Equinix, Inc. (NASDAQ:EQIX) was upgraded by investment analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a $505.00 target price on the financial services provider’s stock, up from their prior target price of $475.00. Barclays PLC’s price target would suggest a potential upside of 9.41% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Equinix from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 8th. Royal Bank Of Canada lifted their price objective on Equinix from $470.00 to $505.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Jefferies Group LLC reiterated a “hold” rating and issued a $410.00 price objective on shares of Equinix in a report on Tuesday, July 4th. Berenberg Bank began coverage on Equinix in a report on Tuesday, September 26th. They issued a “buy” rating and a $550.00 price objective for the company. Finally, Cowen and Company reiterated a “buy” rating on shares of Equinix in a report on Friday, July 21st. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Equinix presently has an average rating of “Buy” and an average price target of $471.94.
Shares of Equinix (EQIX) traded up 1.62% during trading on Wednesday, hitting $469.07. 185,646 shares of the company were exchanged. Equinix has a 1-year low of $314.55 and a 1-year high of $475.28.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping the consensus estimate of $3.41 by $1.18. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. On average, equities analysts anticipate that Equinix will post $3.81 EPS for the current year.
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In other news, insider Karl Strohmeyer sold 250 shares of Equinix stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $464.96, for a total transaction of $116,240.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Camp Peter Van sold 4,444 shares of Equinix stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $445.81, for a total value of $1,981,179.64. Following the transaction, the director now directly owns 8,572 shares in the company, valued at $3,821,483.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,911 shares of company stock worth $4,469,647. Insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Perigon Wealth Management LLC lifted its holdings in Equinix by 17.1% in the 2nd quarter. Perigon Wealth Management LLC now owns 1,832 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 267 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in Equinix by 13.9% in the 2nd quarter. Sentry Investment Management LLC now owns 6,134 shares of the financial services provider’s stock worth $2,632,000 after purchasing an additional 747 shares in the last quarter. Ashford Capital Management Inc. lifted its holdings in Equinix by 0.7% in the 2nd quarter. Ashford Capital Management Inc. now owns 5,295 shares of the financial services provider’s stock worth $2,272,000 after purchasing an additional 37 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Equinix by 25.9% in the 2nd quarter. Toronto Dominion Bank now owns 26,388 shares of the financial services provider’s stock worth $11,322,000 after purchasing an additional 5,431 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Equinix in the 2nd quarter worth approximately $275,000. 96.44% of the stock is currently owned by institutional investors.
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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