Equinix (NASDAQ:EQIX) PT Raised to $910.00

Equinix (NASDAQ:EQIX) had its price target hoisted by analysts at Deutsche Bank Aktiengesellschaft from $880.00 to $910.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 8.14% from the stock’s current price.

Several other research firms have also weighed in on EQIX. The Goldman Sachs Group assumed coverage on Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Barclays increased their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. TD Cowen increased their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Mizuho initiated coverage on Equinix in a research report on Thursday, July 11th. They issued an “outperform” rating and a $873.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and a consensus target price of $877.79.

Equinix Trading Up 1.4 %

Equinix stock opened at $841.49 on Tuesday. The business has a 50 day moving average price of $778.67 and a two-hundred day moving average price of $796.59. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock has a market cap of $79.86 billion, a price-to-earnings ratio of 84.40, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. Equinix has a 12 month low of $677.80 and a 12 month high of $914.93.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 11.32% and a return on equity of 7.73%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $8.04 EPS. The company’s revenue was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that Equinix will post 31.23 EPS for the current year.

Institutional Trading of Equinix

Several hedge funds have recently added to or reduced their stakes in EQIX. Norges Bank acquired a new stake in Equinix during the 4th quarter worth $1,574,132,000. Swedbank AB bought a new position in Equinix during the 1st quarter worth about $294,526,000. Principal Financial Group Inc. increased its holdings in Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Vanguard Group Inc. increased its holdings in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. Finally, M&G Plc bought a new position in Equinix during the 1st quarter worth about $187,089,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.