Deutsche Bank Increases Equinix (EQIX) Price Target to $550.00

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.

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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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About Equinix

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.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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