Equinix, Inc. (NASDAQ:EQIX) had its price target boosted by analysts at Citigroup Inc. from $518.00 to $530.00 in a research report issued on Thursday, November 2nd. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup Inc.’s price target would suggest a potential upside of 10.18% from the stock’s previous close.
A number of other analysts have also commented on the company. J P Morgan Chase & Co raised Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 target price for the company in a report on Thursday, November 2nd. Deutsche Bank AG began coverage on Equinix in a research note on Tuesday, October 24th. They issued a “buy” rating and a $550.00 price target on the stock. UBS AG started coverage on Equinix in a research note on Wednesday, October 18th. They issued a “neutral” rating on the stock. Barclays PLC upgraded Equinix from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $475.00 to $505.00 in a research report on Wednesday, October 18th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $440.00 target price on shares of Equinix in a research report on Thursday, October 12th. Three analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $495.20.
Equinix (NASDAQ EQIX) traded down $3.07 during mid-day trading on Thursday, reaching $481.05. The company had a trading volume of 278,000 shares, compared to its average volume of 501,077. Equinix has a one year low of $327.37 and a one year high of $495.35. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51. The company has a market cap of $37,874.50, a price-to-earnings ratio of 27.23, a PEG ratio of 1.95 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $2.24. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the company earned $3.95 EPS. equities research analysts predict that Equinix will post 16.05 earnings per share for the current year.
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In other news, Director Christopher B. Paisley sold 593 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $484.99, for a total transaction of $287,599.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Karl Strohmeyer sold 250 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $464.96, for a total value of $116,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,560 shares of company stock valued at $3,459,196. 0.58% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Capital World Investors increased its position in shares of Equinix by 247.0% in the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after acquiring an additional 761,220 shares during the period. Janus Henderson Group PLC boosted its holdings in Equinix by 1,517.9% in the second quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock valued at $214,150,000 after purchasing an additional 468,162 shares during the last quarter. Uniplan Investment Counsel Inc. purchased a new stake in Equinix in the second quarter valued at $13,563,000. Egerton Capital UK LLP boosted its holdings in Equinix by 152.0% in the third quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock valued at $217,425,000 after purchasing an additional 293,842 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Equinix by 22.1% in the second quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock valued at $507,583,000 after purchasing an additional 214,396 shares during the last quarter. 95.09% of the stock is currently owned by hedge funds and other institutional investors.
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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