Equinix (NASDAQ:EQIX) had its price objective lifted by SunTrust Banks from $750.00 to $820.00 in a research report report published on Thursday morning, The Fly reports. SunTrust Banks currently has a buy rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on EQIX. Oppenheimer raised their price objective on Equinix from $730.00 to $820.00 and gave the stock an outperform rating in a research report on Thursday. Nomura Securities raised their target price on Equinix from $625.00 to $700.00 and gave the stock a buy rating in a research note on Friday, April 17th. BidaskClub upgraded Equinix from a hold rating to a buy rating in a research note on Tuesday, July 28th. BMO Capital Markets raised their target price on Equinix from $707.00 to $745.00 and gave the stock an outperform rating in a research note on Thursday, May 7th. Finally, Edward Jones began coverage on Equinix in a research note on Tuesday, July 14th. They issued a buy rating for the company. Two investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $765.16.

NASDAQ EQIX traded up $7.53 during midday trading on Thursday, hitting $785.48. 334,613 shares of the company traded hands, compared to its average volume of 322,238. 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 cap of $67.50 billion, a PE ratio of 136.13, a price-to-earnings-growth ratio of 2.47 and a beta of 0.41. The company’s 50-day simple moving average is $714.15 and its 200-day simple moving average is $653.86. Equinix has a 52 week low of $477.87 and a 52 week high of $787.70.

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, August 19th will be issued a $2.66 dividend. This represents a $10.64 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, August 18th. Equinix’s payout ratio is 46.65%.

In other news, insider Brandi Galvin Morandi sold 1,363 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $672.47, for a total transaction of $916,576.61. Following the transaction, the insider now directly owns 19,626 shares in the company, valued at approximately $13,197,896.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Simon Miller sold 950 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $697.18, for a total value of $662,321.00. Following the transaction, the chief accounting officer now owns 1,034 shares in the company, valued at $720,884.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,041 shares of company stock worth $3,437,707. 0.51% of the stock is currently owned by insiders.

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

Equinix Company Profile

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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