Equinix (NASDAQ:EQIX)‘s stock had its “buy” rating reaffirmed by analysts at Bank of America in a report released on Wednesday. They presently have a $520.00 target price on the financial services provider’s stock, up from their previous target price of $450.21. Bank of America’s target price would indicate a potential upside of 12.96% from the stock’s previous close.
A number of other research firms also recently weighed in on EQIX. Berenberg Bank reissued a “buy” rating and set a $550.00 target price on shares of Equinix in a report on Friday, November 3rd. Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $547.00 target price for the company in a report on Monday, November 6th. Cowen reissued a “buy” rating and set a $482.00 target price on shares of Equinix in a report on Friday, November 10th. Oppenheimer lifted their target price on Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Finally, Morgan Stanley lifted their target price on Equinix from $424.00 to $435.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Three equities research 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’s stock. Equinix presently has a consensus rating of “Buy” and an average target price of $501.70.
Equinix (NASDAQ EQIX) opened at $460.35 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51. Equinix has a 52-week low of $347.99 and a 52-week high of $495.35. The company has a market cap of $35,221.59, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.46.
Equinix (NASDAQ:EQIX) last posted its 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. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the firm earned $3.95 earnings per share. The company’s revenue was up 24.6% on a year-over-year basis. equities analysts predict that Equinix will post 16.05 EPS for the current year.
In other Equinix news, insider Michael Earl Campbell sold 200 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $463.61, for a total transaction of $92,722.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total value of $657,690.00. Following the transaction, the chief financial officer now directly owns 31,393 shares of the company’s stock, valued at approximately $13,764,574.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,993 shares of company stock valued at $2,770,635. Insiders own 0.58% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Proficio Capital Partners LLC raised its stake in Equinix by 2.9% during the second quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 7 shares in the last quarter. Zions Bancorporation raised its stake in Equinix by 2,550.0% during the third quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 255 shares in the last quarter. San Francisco Sentry Investment Group CA acquired a new position in Equinix during the second quarter worth about $127,000. Amica Retiree Medical Trust acquired a new position in Equinix during the third quarter worth about $188,000. Finally, Commerce Bank acquired a new position in Equinix during the third quarter worth about $203,000. 94.34% of the stock is owned by hedge funds and other institutional investors.
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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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