Equities researchers at UBS AG initiated coverage on shares of Equinix, Inc. (NASDAQ:EQIX) in a research report issued on Wednesday, October 18th, The Fly reports. The firm set a “neutral” rating on the financial services provider’s stock.
Several other brokerages also recently issued reports on EQIX. BidaskClub raised Equinix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Barclays PLC upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $475.00 to $505.00 in a research note on Wednesday, October 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $440.00 target price on shares of Equinix in a research note on Thursday, October 12th. Cowen and Company reiterated an “outperform” rating and issued a $482.00 target price (up previously from $465.00) on shares of Equinix in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $497.00 target price (up previously from $485.00) on shares of Equinix in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Equinix presently has an average rating of “Buy” and an average target price of $495.20.
Equinix (NASDAQ EQIX) traded up $4.97 on Wednesday, hitting $491.62. The stock had a trading volume of 397,390 shares, compared to its average volume of 379,176. The company has a market cap of $38,072.43, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.95 and a beta of 0.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 1.69.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) 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 company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.95 earnings per share. equities analysts anticipate that Equinix will post 16.07 earnings per share for the current year.
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In other news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $438.46, for a total transaction of $657,690.00. Following the completion of the sale, the chief financial officer now directly owns 31,393 shares in the company, valued at $13,764,574.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,967 shares of company stock valued at $3,171,597. 0.58% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in EQIX. Teachers Advisors LLC lifted its stake in shares of Equinix by 4.6% in the first quarter. Teachers Advisors LLC now owns 404,889 shares of the financial services provider’s stock valued at $162,105,000 after buying an additional 17,644 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of Equinix by 21.0% during the first quarter. Global X Management Co. LLC now owns 737 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 128 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Equinix during the first quarter worth about $1,447,000. Marshall Wace North America L.P. purchased a new stake in Equinix during the first quarter worth about $1,447,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Equinix by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,017,686 shares of the financial services provider’s stock worth $407,445,000 after purchasing an additional 79,417 shares in the last quarter. 96.77% of the stock is currently owned by hedge funds and other institutional investors.
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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