Equinix, Inc. (NASDAQ:EQIX) had its price objective hoisted by Oppenheimer Holdings, Inc. from $472.00 to $500.00 in a report released on Thursday, November 2nd. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 3.94% from the stock’s previous close.
Several other research analysts have also recently weighed in on the stock. Cowen and Company restated a “buy” rating on shares of Equinix in a research report on Friday, July 21st. Barclays PLC upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $475.00 to $505.00 in a research report on Wednesday, October 18th. UBS AG started coverage on shares of Equinix in a research report on Wednesday, October 18th. They issued a “neutral” rating on the stock. Jefferies Group LLC restated a “hold” rating and issued a $440.00 price objective on shares of Equinix in a research report on Thursday, October 12th. Finally, Deutsche Bank AG initiated coverage on shares of Equinix in a research report on Tuesday, October 24th. They issued a “buy” rating and a $550.00 price objective on the stock. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $495.20.
Equinix (EQIX) traded down $3.07 during mid-day trading on Thursday, hitting $481.05. 278,000 shares of the company traded hands, compared to its average volume of 501,077. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market capitalization of $37,874.50, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.95 and a beta of 0.46. Equinix has a one year low of $327.37 and a one year high of $495.35.
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, topping the Thomson Reuters’ consensus estimate of $1.39 by $2.24. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. Equinix’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.95 earnings per share. equities analysts anticipate that Equinix will post 16.05 earnings per share for the current fiscal year.
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In related news, COO Charles J. Meyers sold 1,090 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $459.80, for a total value of $501,182.00. Following the completion of the sale, the chief operating officer now owns 2,297 shares of the company’s stock, valued at $1,056,160.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 593 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $484.99, for a total value of $287,599.07. The disclosure for this sale can be found here. Insiders sold 7,560 shares of company stock valued at $3,459,196 in the last ninety days. 0.58% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in EQIX. Proficio Capital Partners LLC lifted its stake in Equinix by 2.9% in the second quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 7 shares during the period. Zions Bancorporation lifted its stake in Equinix by 2,550.0% in the third quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 255 shares during the period. San Francisco Sentry Investment Group CA purchased a new stake in Equinix in the second quarter worth $127,000. Smithfield Trust Co. lifted its stake in Equinix by 19.1% in the second quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 54 shares during the period. Finally, Amica Retiree Medical Trust purchased a new stake in Equinix in the third quarter worth $188,000. 95.09% of the stock is owned by 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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