Equinix, Inc. (EQIX) Stock Rating Reaffirmed by Cowen and Company
Equinix, Inc. (NASDAQ:EQIX)‘s stock had its “buy” rating reissued by equities researchers at Cowen and Company in a report released on Friday. They currently have a $482.00 price target on the financial services provider’s stock. Cowen and Company’s price target would indicate a potential downside of 0.04% from the company’s previous close.
EQIX has been the subject of a number of other research reports. Credit Suisse Group reissued an “outperform” rating and issued a $515.00 target price (up previously from $510.00) on shares of Equinix in a report on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $497.00 price target (up previously from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Berenberg Bank reaffirmed a “buy” rating and set a $550.00 price target on shares of Equinix in a research note on Friday, November 3rd. UBS AG began coverage on Equinix in a research note on Wednesday, October 18th. They set a “neutral” rating for the company. Finally, BidaskClub raised Equinix from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Equinix presently has an average rating of “Buy” and a consensus target price of $495.20.
Shares of Equinix (EQIX) opened at $482.21 on Friday. Equinix has a fifty-two week low of $314.55 and a fifty-two week high of $495.35. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 1.69. The company has a market capitalization of $37,932.39, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.95 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $3.95 earnings per share. Equinix’s quarterly revenue was up 24.6% compared to the same quarter last year. equities research analysts expect that Equinix will post 16.05 EPS for the current year.
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In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total value of $657,690.00. Following the completion of the sale, the chief financial officer now owns 31,393 shares in the company, valued at approximately $13,764,574.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Earl Campbell sold 1,427 shares of Equinix stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $459.75, for a total value of $656,063.25. The disclosure for this sale can be found here. Insiders sold a total of 7,560 shares of company stock valued at $3,459,196 in the last 90 days. 0.58% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Forsta AP Fonden grew its holdings in shares of Equinix by 33.8% during the 3rd quarter. Forsta AP Fonden now owns 30,100 shares of the financial services provider’s stock worth $13,434,000 after purchasing an additional 7,600 shares during the period. Verition Fund Management LLC grew its holdings in shares of Equinix by 17.0% during the 2nd quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 119 shares during the period. Nicholas Company Inc. purchased a new stake in shares of Equinix during the 2nd quarter worth about $3,201,000. Ameriprise Financial Inc. grew its holdings in shares of Equinix by 7.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 610,357 shares of the financial services provider’s stock worth $261,747,000 after purchasing an additional 43,933 shares during the period. Finally, Toronto Dominion Bank grew its holdings in shares of Equinix by 25.9% during 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 during the period. Institutional investors and hedge funds own 96.77% of the company’s stock.
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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