Brokerages Set Equinix Inc. (EQIX) Price Target at $394.83
Shares of Equinix Inc. (NASDAQ:EQIX) have been given an average rating of “Buy” by the twenty analysts that are presently covering the stock. Seven investment analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $394.83.
Several analysts have recently issued reports on the stock. Jefferies Group reiterated a “hold” rating on shares of Equinix in a research note on Saturday, August 6th. Barclays PLC upped their target price on shares of Equinix from $360.00 to $372.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 4th. Citigroup Inc. upped their target price on shares of Equinix from $391.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. William Blair reiterated a “buy” rating on shares of Equinix in a research note on Sunday, June 26th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Equinix in a report on Sunday, June 26th.
Equinix (NASDAQ:EQIX) opened at 361.72 on Friday. The company has a market capitalization of $25.71 billion, a price-to-earnings ratio of 357.08 and a beta of 0.79. The firm has a 50-day moving average of $361.70 and a 200 day moving average of $358.91. Equinix has a 12-month low of $255.45 and a 12-month high of $391.07.
Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, August 3rd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.64 by $3.08. Equinix had a return on equity of 6.02% and a net margin of 2.07%. The firm earned $900.50 million during the quarter, compared to the consensus estimate of $893.99 million. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s revenue was up 35.3% compared to the same quarter last year. Analysts expect that Equinix will post $14.93 EPS for the current fiscal year.
In other news, insider Eric Schwartz sold 86 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $368.76, for a total transaction of $31,713.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Charles J. Meyers sold 200 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $364.90, for a total value of $72,980.00. Following the sale, the chief operating officer now owns 1,845 shares in the company, valued at $673,240.50. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Sarasin & Partners LLP boosted its stake in shares of Equinix by 3.6% in the third quarter. Sarasin & Partners LLP now owns 605,776 shares of the company’s stock valued at $218,231,000 after buying an additional 21,283 shares in the last quarter. National Pension Service boosted its stake in shares of Equinix by 8.5% in the third quarter. National Pension Service now owns 50,335 shares of the company’s stock valued at $18,133,000 after buying an additional 3,961 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of Equinix by 26.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 256,863 shares of the company’s stock valued at $92,535,000 after buying an additional 53,103 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Equinix by 14.4% in the third quarter. Nisa Investment Advisors LLC now owns 7,154 shares of the company’s stock valued at $2,577,000 after buying an additional 900 shares during the period. Finally, Atria Investments LLC boosted its position in Equinix by 15.2% in the third quarter. Atria Investments LLC now owns 645 shares of the company’s stock valued at $232,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 99.86% of the company’s stock.
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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