Credit Suisse Group set a $524.00 target price on Equinix (NASDAQ:EQIX) in a report issued on Wednesday morning, MarketBeat.com reports. The brokerage currently has an outperform rating on the financial services provider’s stock.
“We reiterate our outperform rating and increase our target price to $524 (from $515) based on a ~20x P/ 2019E AFFOS multiple.”,” the firm’s analyst wrote.
Other equities analysts have also issued research reports about the company. Cowen reissued a buy rating and set a $482.00 price target on shares of Equinix in a report on Friday, November 10th. Zacks Investment Research raised Equinix from a hold rating to a buy rating and set a $547.00 price target on the stock in a report on Monday, November 6th. Berenberg Bank reissued a buy rating and set a $550.00 price target on shares of Equinix in a report on Friday, November 3rd. Deutsche Bank started coverage on Equinix in a report on Tuesday, October 24th. They set a buy rating and a $550.00 price target on the stock. Finally, Nomura raised their price target on Equinix from $490.00 to $510.00 and gave the stock a buy rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $504.00.
Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $3.95 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. equities analysts forecast that Equinix will post 16.05 EPS for the current year.
In other news, Director Christopher B. Paisley sold 593 shares of Equinix stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $484.99, for a total transaction of $287,599.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Earl Campbell sold 200 shares of Equinix stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $479.37, for a total transaction of $95,874.00. Following the sale, the insider now owns 1,125 shares of the company’s stock, valued at $539,291.25. The disclosure for this sale can be found here. Insiders sold a total of 23,110 shares of company stock worth $10,382,238 in the last ninety days. 0.58% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Zions Bancorporation lifted its position in shares of Equinix by 2,550.0% during the 3rd quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 255 shares during the period. San Francisco Sentry Investment Group CA acquired a new stake in shares of Equinix during the 2nd quarter valued at approximately $127,000. Amica Retiree Medical Trust acquired a new stake in shares of Equinix during the 3rd quarter valued at approximately $188,000. Commerce Bank acquired a new stake in shares of Equinix during the 3rd quarter valued at approximately $203,000. Finally, Ithaka Group LLC acquired a new stake in shares of Equinix during the 3rd quarter valued at approximately $223,000. Institutional investors own 94.17% of the company’s stock.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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