Equinix (EQIX) PT Raised to $525.00
Equinix (NASDAQ:EQIX) had its price objective upped by investment analysts at Oppenheimer to $525.00 in a note issued to investors on Friday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective indicates a potential upside of 17.55% from the company’s current price.
Several other equities research analysts also recently weighed in on the stock. Barclays raised 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. Cowen reissued a “buy” rating and set a $482.00 price target on shares of Equinix in a research report on Friday, November 10th. Morgan Stanley lifted their price target on shares of Equinix from $424.00 to $435.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Credit Suisse Group set a $515.00 target price on shares of Equinix and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Finally, Nomura boosted their price objective on shares of Equinix from $490.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Equinix currently has a consensus rating of “Buy” and a consensus price target of $502.95.
Equinix (NASDAQ:EQIX) opened at $446.60 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51. The stock has a market cap of $34,883.63, a PE ratio of 147.39, a price-to-earnings-growth ratio of 1.79 and a beta of 0.46. Equinix has a twelve month low of $350.37 and a twelve month high of $495.35.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $2.24. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The company’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.95 earnings per share. sell-side analysts predict that Equinix will post 16.05 EPS for the current fiscal year.
In other Equinix news, insider Michael Earl Campbell sold 200 shares of the stock in a transaction on Monday, October 16th. The stock was sold at an average price of $463.61, for a total value of $92,722.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 593 shares of the stock in a transaction on Monday, November 6th. The shares were 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. In the last quarter, insiders have sold 7,693 shares of company stock valued at $3,549,881. 0.58% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zions Bancorporation raised its position in shares of Equinix by 2,550.0% in the third quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock valued at $118,000 after buying an additional 255 shares in the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of Equinix in the 2nd quarter worth about $127,000. Amica Retiree Medical Trust acquired a new stake in shares of Equinix in the 3rd quarter worth about $188,000. Commerce Bank acquired a new stake in shares of Equinix in the 3rd quarter worth about $203,000. Finally, Bienville Capital Management LLC acquired a new stake in shares of Equinix in the 2nd quarter worth about $213,000. Institutional investors own 94.16% of the company’s stock.
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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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