Equinix (NASDAQ:EQIX) had its price target increased by Deutsche Bank from $545.00 to $550.00 in a research report released on Tuesday. They currently have a buy rating on the financial services provider’s stock.
A number of other equities research analysts have also recently weighed in on EQIX. Credit Suisse Group set a $515.00 price objective on Equinix and gave the company a buy rating in a research note on Monday, December 18th. Oppenheimer boosted their price objective on Equinix to $525.00 and gave the company an outperform rating in a research note on Friday, December 22nd. BidaskClub cut Equinix from a hold rating to a sell rating in a research note on Thursday, January 11th. Barclays reiterated a buy rating and issued a $517.00 price objective on shares of Equinix in a research note on Friday, January 19th. Finally, UBS upgraded Equinix from a neutral rating to a buy rating and set a $510.00 price objective for the company in a research note on Monday, January 29th. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $499.67.
Shares of NASDAQ EQIX opened at $406.06 on Tuesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.81 and a quick ratio of 1.81. Equinix has a twelve month low of $370.79 and a twelve month high of $495.35. The company has a market capitalization of $32,433.60, a price-to-earnings ratio of 22.10, a PEG ratio of 1.24 and a beta of 0.51.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.87 by ($3.05). Equinix had a net margin of 5.33% and a return on equity of 6.54%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm posted $4.08 EPS. Equinix’s quarterly revenue was up 27.3% compared to the same quarter last year. sell-side analysts anticipate that Equinix will post 18.73 earnings per share for the current year.
In related news, insider Charles J. Meyers sold 2,196 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $450.00, for a total transaction of $988,200.00. Following the transaction, the insider now owns 1,844 shares of the company’s stock, valued at $829,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 464 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $402.05, for a total value of $186,551.20. The disclosure for this sale can be found here. In the last three months, insiders sold 23,782 shares of company stock worth $9,685,076. Corporate insiders own 0.58% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EQIX. Whittier Trust Co. grew its holdings in Equinix by 191.5% during the fourth quarter. Whittier Trust Co. now owns 239 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 157 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Equinix during the fourth quarter worth $121,000. Truewealth LLC acquired a new position in Equinix during the fourth quarter worth $137,000. Cambridge Investment Research Advisors Inc. acquired a new position in Equinix during the fourth quarter worth $201,000. Finally, Advisory Services Network LLC grew its holdings in Equinix by 68.7% during the fourth quarter. Advisory Services Network LLC now owns 464 shares of the financial services provider’s stock worth $210,000 after acquiring an additional 189 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.
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Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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