BidaskClub Downgrades Equinix (EQIX) to Sell

BidaskClub downgraded shares of Equinix (NASDAQ:EQIX) from a hold rating to a sell rating in a research note released on Friday morning.

Other research analysts have also recently issued reports about the stock. Citigroup raised their target price on shares of Equinix from $494.00 to $506.00 and gave the stock a buy rating in a report on Thursday, August 9th. Credit Suisse Group set a $520.00 target price on shares of Equinix and gave the stock a buy rating in a report on Thursday, August 9th. BMO Capital Markets lowered their target price on shares of Equinix from $526.00 to $521.00 and set a buy rating on the stock in a report on Thursday, August 9th. Stifel Nicolaus started coverage on shares of Equinix in a report on Tuesday, July 17th. They set a buy rating and a $500.00 target price on the stock. Finally, Jefferies Financial Group reaffirmed a hold rating and set a $454.00 target price (down from $460.00) on shares of Equinix in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $503.84.

Equinix stock traded up $5.74 during trading hours on Friday, hitting $392.43. The company had a trading volume of 1,086,299 shares, compared to its average volume of 546,318. The stock has a market cap of $31.20 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.30 and a beta of 0.74. 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 one year low of $370.79 and a one year high of $495.35.

Equinix (NASDAQ:EQIX) last announced its earnings results on Thursday, November 1st. The financial services provider reported $1.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.47 by ($2.92). Equinix had a return on equity of 7.75% and a net margin of 6.46%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the business posted $3.63 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts anticipate that Equinix will post 18.58 earnings per share for the current fiscal year.

In related news, CFO Keith D. Taylor sold 2,000 shares of Equinix stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $431.65, for a total value of $863,300.00. Following the transaction, the chief financial officer now directly owns 21,141 shares of the company’s stock, valued at $9,125,512.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Earl Campbell sold 1,316 shares of Equinix stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $423.38, for a total transaction of $557,168.08. Following the completion of the transaction, 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. Insiders sold 3,566 shares of company stock worth $1,528,778 over the last three months. 0.51% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Bank of The West increased its stake in Equinix by 9.0% in the third quarter. Bank of The West now owns 3,091 shares of the financial services provider’s stock valued at $1,338,000 after acquiring an additional 255 shares during the last quarter. Gabelli Funds LLC boosted its position in Equinix by 7.4% in the third quarter. Gabelli Funds LLC now owns 14,500 shares of the financial services provider’s stock valued at $6,277,000 after buying an additional 1,000 shares in the last quarter. WESPAC Advisors LLC boosted its position in Equinix by 58.6% in the third quarter. WESPAC Advisors LLC now owns 7,586 shares of the financial services provider’s stock valued at $3,284,000 after buying an additional 2,803 shares in the last quarter. Wells Fargo & Company MN boosted its position in Equinix by 1.2% in the third quarter. Wells Fargo & Company MN now owns 431,556 shares of the financial services provider’s stock valued at $186,816,000 after buying an additional 5,209 shares in the last quarter. Finally, Beaumont Financial Partners LLC acquired a new stake in Equinix in the third quarter valued at approximately $240,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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