Equinix (NASDAQ:EQIX) had its price target reduced by stock analysts at MED to $460.00 in a note issued to investors on Thursday, The Fly reports. The firm presently has a “positive” rating on the financial services provider’s stock. MED’s target price indicates a potential upside of 18.96% from the company’s current price.
A number of other equities analysts also recently commented on the company. BidaskClub downgraded Equinix from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. ValuEngine upgraded Equinix from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Mitsubishi UFJ Financial Group increased their price objective on Equinix to $483.00 and gave the stock an “overweight” rating in a report on Friday, August 17th. BMO Capital Markets decreased their price objective on Equinix from $526.00 to $521.00 and set a “buy” rating for the company in a report on Thursday, August 9th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $454.00 price objective (down previously from $460.00) on shares of Equinix in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $505.59.
Shares of Equinix stock traded up $7.95 during midday trading on Thursday, reaching $386.69. 565,417 shares of the company’s stock traded hands, compared to its average volume of 599,734. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.60. The company has a market cap of $29.96 billion, a PE ratio of 20.87, a P/E/G ratio of 1.25 and a beta of 0.46. Equinix has a 12 month low of $370.79 and a 12 month high of $495.35.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 8th. The financial services provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.08). The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. Equinix had a net margin of 5.71% and a return on equity of 7.22%. Equinix’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.80 EPS. On average, research analysts anticipate that Equinix will post 18.58 earnings per share for the current year.
In other news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $431.65, for a total value of $863,300.00. Following the sale, the chief financial officer now directly owns 21,141 shares of the company’s stock, valued at $9,125,512.65. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 1,316 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $423.38, for a total value of $557,168.08. Following the completion of the sale, the insider now directly owns 3,954 shares in the company, valued at $1,674,044.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,566 shares of company stock worth $1,528,778. Insiders own 0.51% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Bridgeworth LLC purchased a new stake in shares of Equinix in the second quarter worth $100,000. We Are One Seven LLC purchased a new stake in shares of Equinix in the third quarter worth $204,000. First Allied Advisory Services Inc. purchased a new stake in shares of Equinix in the second quarter worth $206,000. Park Avenue Securities LLC purchased a new stake in shares of Equinix in the second quarter worth $214,000. Finally, Greenleaf Trust purchased a new stake in shares of Equinix in the third quarter worth $226,000. 99.67% of the stock is currently owned by hedge funds and other institutional investors.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 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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