Equinix (NASDAQ:EQIX) had its target price reduced by research analysts at Citigroup from $506.00 to $481.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Citigroup’s price objective would suggest a potential upside of 22.57% from the stock’s previous close.
A number of other research analysts have also recently commented on EQIX. Credit Suisse Group set a $525.00 target price on shares of Equinix and gave the stock a “buy” rating in a research report on Friday, July 6th. Zacks Investment Research cut shares of Equinix from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. Stifel Nicolaus initiated coverage on shares of Equinix in a research report on Tuesday, July 17th. They set a “buy” rating and a $500.00 target price on the stock. BMO Capital Markets initiated coverage on shares of Equinix in a research report on Tuesday, July 17th. They set an “outperform” rating and a $526.00 target price on the stock. Finally, BidaskClub cut shares of Equinix from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. Equinix presently has a consensus rating of “Buy” and a consensus price target of $503.09.
EQIX stock traded up $5.74 during midday trading on Friday, reaching $392.43. 1,086,299 shares of the company’s stock traded hands, compared to its average volume of 602,019. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 1.25 and a beta of 0.46. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.60. Equinix has a fifty-two week low of $370.79 and a fifty-two week high of $495.35.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $4.47 by ($2.99). The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. Equinix had a net margin of 5.71% and a return on equity of 7.22%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $3.63 earnings per share. On average, equities analysts forecast that Equinix will post 18.58 EPS for the current fiscal year.
In other Equinix news, insider Michael Earl Campbell sold 250 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $433.24, for a total transaction of $108,310.00. Following the completion of the sale, the insider now owns 1,427 shares in the company, valued at $618,233.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $431.65, for a total transaction of $863,300.00. Following the sale, the chief financial officer now owns 21,141 shares of the company’s stock, valued at approximately $9,125,512.65. The disclosure for this sale can be found here. Insiders sold 3,566 shares of company stock worth $1,528,778 over the last ninety days. 0.51% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in EQIX. Bridgeworth LLC bought a new stake in Equinix during the second quarter valued at $100,000. We Are One Seven LLC bought a new stake in Equinix during the third quarter valued at $204,000. First Allied Advisory Services Inc. bought a new stake in Equinix during the second quarter valued at $206,000. Park Avenue Securities LLC bought a new stake in Equinix during the second quarter valued at $214,000. Finally, Greenleaf Trust bought a new stake in Equinix during the third quarter valued at $226,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.
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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