Equinix (NASDAQ:EQIX) Downgraded by BidaskClub

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Equinix (NASDAQ:EQIX) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Saturday, BidAskClub reports.

A number of other brokerages have also weighed in on EQIX. BMO Capital Markets increased their target price on Equinix to $610.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Credit Suisse Group set a $581.00 price objective on Equinix and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley raised their price objective on Equinix from $435.00 to $510.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. Mitsubishi UFJ Financial Group began coverage on Equinix in a research note on Tuesday, September 10th. They set an “overweight” rating and a $605.00 price objective on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $620.00 price objective on shares of Equinix in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $564.40.

Shares of NASDAQ EQIX opened at $566.85 on Friday. The firm has a market cap of $45.70 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 2.05 and a beta of 0.69. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33. Equinix has a 1-year low of $335.29 and a 1-year high of $609.97. The business’s 50 day moving average is $558.46 and its 200-day moving average is $534.15.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $1.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.96 by ($3.55). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. Equinix’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $1.55 EPS. Analysts forecast that Equinix will post 20.63 EPS for the current year.

In other news, insider Brandi Galvin Morandi sold 589 shares of Equinix stock in a transaction on Monday, November 4th. The stock was sold at an average price of $560.67, for a total value of $330,234.63. Following the transaction, the insider now owns 15,904 shares in the company, valued at approximately $8,916,895.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Earl Campbell sold 124 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $559.80, for a total value of $69,415.20. Following the completion of the transaction, the insider now owns 1,578 shares in the company, valued at approximately $883,364.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,566 shares of company stock worth $1,997,316. Corporate insiders own 0.49% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Tarbox Family Office Inc. increased its stake in shares of Equinix by 181.3% in the 3rd quarter. Tarbox Family Office Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 29 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Equinix in the 2nd quarter valued at $26,000. Meeder Asset Management Inc. bought a new position in shares of Equinix in the 2nd quarter valued at $26,000. Johnson Financial Group Inc. bought a new position in shares of Equinix in the 2nd quarter valued at $29,000. Finally, North Star Investment Management Corp. bought a new position in shares of Equinix in the 3rd quarter valued at $40,000. Institutional investors own 98.90% of the company’s stock.

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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