Equinix (NASDAQ:EQIX)‘s stock had its “buy” rating restated by equities research analysts at Bank of America in a report released on Wednesday. They currently have a $520.00 target price on the financial services provider’s stock, up from their prior target price of $450.21. Bank of America’s price target would indicate a potential upside of 15.50% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Citigroup boosted their price objective on Equinix from $518.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Nomura boosted their price objective on Equinix from $490.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Berenberg Bank started coverage on Equinix in a research report on Tuesday, September 26th. They set a “buy” rating and a $550.00 price objective for the company. Deutsche Bank started coverage on Equinix in a research report on Tuesday, October 24th. They set a “buy” rating and a $550.00 price objective for the company. Finally, Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $547.00 price objective for the company in a research report on Monday, November 6th. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Equinix presently has an average rating of “Buy” and a consensus target price of $501.70.
Shares of Equinix (EQIX) opened at $450.21 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market cap of $35,172.30, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.81 and a beta of 0.46. Equinix has a one year low of $347.99 and a one year high of $495.35.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the company posted $3.95 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. sell-side analysts anticipate that Equinix will post 16.05 EPS for the current fiscal year.
In other news, CFO Keith D. Taylor sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $476.81, for a total transaction of $953,620.00. Following the completion of the sale, the chief financial officer now owns 27,996 shares in the company, valued at $13,348,772.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Earl Campbell sold 200 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $463.61, for a total value of $92,722.00. The disclosure for this sale can be found here. Insiders sold 5,993 shares of company stock valued at $2,770,635 over the last three months. Corporate insiders own 0.58% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in EQIX. Capital World Investors raised its position in Equinix by 247.0% in the second quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock worth $458,926,000 after acquiring an additional 761,220 shares in the last quarter. Janus Henderson Group PLC raised its position in Equinix by 1,517.9% in the second quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock worth $214,150,000 after acquiring an additional 468,162 shares in the last quarter. Uniplan Investment Counsel Inc. purchased a new position in Equinix in the second quarter worth $13,563,000. Egerton Capital UK LLP raised its position in Equinix by 152.0% in the third quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock worth $217,425,000 after acquiring an additional 293,842 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Equinix by 22.1% in the second quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock worth $507,583,000 after acquiring an additional 214,396 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.
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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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