BMO Capital Markets Reiterates Positive Rating for Equinix (NASDAQ:EQIX)

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Equinix (NASDAQ:EQIX)‘s stock had its “positive” rating restated by equities research analysts at BMO Capital Markets in a note issued to investors on Thursday, The Fly reports. They presently have a $665.00 target price on the financial services provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 2.52% from the stock’s current price.

EQIX has been the subject of several other reports. Raymond James boosted their price objective on shares of Equinix from $560.00 to $625.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 31st. Oppenheimer boosted their price objective on shares of Equinix from $550.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. ValuEngine cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Stifel Nicolaus reissued a “buy” rating and set a $620.00 price objective on shares of Equinix in a research note on Thursday, November 14th. Finally, BidaskClub raised shares of Equinix from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $613.55.

Shares of NASDAQ EQIX opened at $648.65 on Thursday. Equinix has a 52-week low of $399.57 and a 52-week high of $636.43. The firm has a fifty day moving average of $593.77 and a 200-day moving average of $565.00. The stock has a market capitalization of $51.41 billion, a PE ratio of 27.82, a P/E/G ratio of 2.11 and a beta of 0.64. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.56 by ($0.10). Equinix had a net margin of 9.12% and a return on equity of 5.87%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts expect that Equinix will post 22.57 EPS for the current fiscal year.

In related news, Director Christopher B. Paisley sold 200 shares of Equinix stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $557.29, for a total transaction of $111,458.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles J. Meyers sold 5,562 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $592.53, for a total transaction of $3,295,651.86. Following the transaction, the chief executive officer now owns 8,567 shares in the company, valued at approximately $5,076,204.51. The disclosure for this sale can be found here. Insiders have sold a total of 17,159 shares of company stock worth $10,149,833 in the last 90 days. Company insiders own 0.49% of the company’s stock.

Several large investors have recently bought and sold shares of EQIX. Resolution Capital Ltd acquired a new position in shares of Equinix during the 4th quarter valued at $120,032,000. Duff & Phelps Investment Management Co. lifted its holdings in Equinix by 225.2% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 219,450 shares of the financial services provider’s stock worth $128,093,000 after buying an additional 151,960 shares in the last quarter. State Street Corp lifted its holdings in Equinix by 4.3% in the 3rd quarter. State Street Corp now owns 3,473,776 shares of the financial services provider’s stock worth $2,003,674,000 after buying an additional 144,231 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Equinix by 43.6% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 428,318 shares of the financial services provider’s stock worth $247,054,000 after buying an additional 130,121 shares in the last quarter. Finally, M&G Investment Management Ltd. acquired a new position in Equinix in the 4th quarter worth $67,072,000. Institutional investors and hedge funds own 99.37% of the company’s stock.

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 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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The Fly

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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