Equinix (NASDAQ:EQIX) had its target price increased by analysts at Oppenheimer from $730.00 to $820.00 in a research report issued on Thursday, The Fly reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price target suggests a potential upside of 4.39% from the company’s previous close.

Several other analysts have also issued reports on the stock. Raymond James upgraded shares of Equinix from a “market perform” rating to an “outperform” rating and set a $835.00 target price for the company in a research note on Thursday. Nomura Securities upped their target price on shares of Equinix from $625.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Credit Suisse Group reiterated a “buy” rating on shares of Equinix in a research note on Monday, June 8th. Wells Fargo & Co boosted their price target on shares of Equinix from $745.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Finally, Citigroup boosted their price target on shares of Equinix from $710.00 to $754.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Equinix presently has an average rating of “Buy” and an average target price of $765.16.

Shares of NASDAQ EQIX traded up $7.53 during trading on Thursday, hitting $785.48. The stock had a trading volume of 334,613 shares, compared to its average volume of 322,238. Equinix has a 12 month low of $477.87 and a 12 month high of $787.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.55 and a quick ratio of 1.26. The company has a market capitalization of $67.50 billion, a PE ratio of 136.13, a PEG ratio of 2.45 and a beta of 0.41. The firm has a fifty day moving average of $714.15 and a two-hundred day moving average of $653.86.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.40 by ($3.88). Equinix had a return on equity of 5.43% and a net margin of 8.69%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company earned $1.69 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts expect that Equinix will post 21.55 earnings per share for the current fiscal year.

In other news, CAO Simon Miller sold 950 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $697.18, for a total value of $662,321.00. Following the sale, the chief accounting officer now directly owns 1,034 shares of the company’s stock, valued at $720,884.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Adaire Fox-Martin sold 58 shares of the stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $713.42, for a total transaction of $41,378.36. Following the completion of the sale, the director now directly owns 193 shares in the company, valued at $137,690.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,041 shares of company stock worth $3,437,707. Insiders own 0.51% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Guggenheim Capital LLC grew its holdings in shares of Equinix by 2.8% in the fourth quarter. Guggenheim Capital LLC now owns 71,371 shares of the financial services provider’s stock worth $41,660,000 after purchasing an additional 1,932 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Equinix by 1.2% in the fourth quarter. Franklin Resources Inc. now owns 497,257 shares of the financial services provider’s stock worth $290,249,000 after purchasing an additional 5,750 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Equinix by 9.3% in the fourth quarter. Quadrant Capital Group LLC now owns 974 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 83 shares during the last quarter. Pensionfund Sabic grew its holdings in shares of Equinix by 60.0% in the first quarter. Pensionfund Sabic now owns 3,200 shares of the financial services provider’s stock worth $1,999,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Timbercreek Investment Management Inc. grew its holdings in shares of Equinix by 11.4% in the first quarter. Timbercreek Investment Management Inc. now owns 38,867 shares of the financial services provider’s stock worth $24,337,000 after purchasing an additional 3,980 shares during the last quarter. 93.48% of the stock is currently owned by hedge funds and other institutional investors.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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