Equinix (NASDAQ:EQIX) Given New $820.00 Price Target at Oppenheimer
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.
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.
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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