Equinix (NASDAQ:EQIX) Price Target Raised to $680.00

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Equinix (NASDAQ:EQIX) had its price objective lifted by SunTrust Banks from $560.00 to $680.00 in a research note issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the financial services provider’s stock. SunTrust Banks’ price objective indicates a potential upside of 4.83% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Co reissued an “outperform” rating and issued a $620.00 price objective (up previously from $545.00) on shares of Equinix in a report on Thursday, October 31st. BMO Capital Markets boosted their price objective on Equinix to $610.00 and gave the company a “positive” rating in a report on Thursday, October 31st. FBN Securities boosted their price objective on Equinix from $550.00 to $625.00 and gave the company an “outperform” rating in a report on Monday, November 4th. BidaskClub raised Equinix from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $620.00 price objective on shares of Equinix in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Equinix currently has a consensus rating of “Buy” and a consensus target price of $613.55.

Shares of EQIX stock opened at $648.65 on Thursday. The stock has a market cap of $51.41 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.11 and a beta of 0.64. The business has a 50-day simple moving average of $593.77 and a 200-day simple moving average of $565.00. 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 has a 52-week low of $399.57 and a 52-week high of $636.43.

Equinix (NASDAQ:EQIX) last issued 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). The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Equinix had a net margin of 9.12% and a return on equity of 5.87%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $1.36 EPS. Sell-side analysts anticipate that Equinix will post 22.57 earnings per share for the current fiscal year.

In related news, Director Christopher B. Paisley sold 200 shares of Equinix stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $557.29, for a total value of $111,458.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sara Baack sold 250 shares of Equinix stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $583.91, for a total value of $145,977.50. Following the completion of the transaction, the insider now owns 7,672 shares of the company’s stock, valued at approximately $4,479,757.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,159 shares of company stock valued at $10,149,833. 0.49% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in the stock. Tarbox Family Office Inc. increased its stake in Equinix by 181.3% during the 3rd quarter. Tarbox Family Office Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 29 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in Equinix during the 4th quarter worth approximately $26,000. Savior LLC purchased a new stake in Equinix during the 4th quarter worth approximately $32,000. TCI Wealth Advisors Inc. increased its stake in Equinix by 81.1% during the 4th quarter. TCI Wealth Advisors Inc. now owns 67 shares of the financial services provider’s stock worth $39,000 after buying an additional 30 shares in the last quarter. Finally, Baystate Wealth Management LLC increased its stake in Equinix by 91.9% during the 3rd quarter. Baystate Wealth Management LLC now owns 71 shares of the financial services provider’s stock worth $41,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 99.37% 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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The Fly

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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