Equinix, Inc. (NASDAQ:EQIX) Rating Reiterated by Stifel Nicolaus
Equinix, Inc. (NASDAQ:EQIX)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a report issued on Thursday. They presently have a $497.00 price objective on the financial services provider’s stock, up from their prior price objective of $485.00. Stifel Nicolaus’ target price indicates a potential upside of 11.54% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $472.00 price target (up previously from $440.00) on shares of Equinix in a research note on Thursday, May 4th. Citigroup Inc. upped their price target on shares of Equinix from $435.00 to $462.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Cowen and Company upped their price target on shares of Equinix from $453.00 to $465.00 and gave the stock an “outperform” rating in a research note on Friday, April 28th. Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $451.00 price target on the stock in a research note on Wednesday, April 5th. Finally, Jefferies Group LLC boosted their target price on Equinix from $378.00 to $410.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $462.83.
Shares of Equinix (EQIX) traded down 0.84% during mid-day trading on Thursday, hitting $445.58. 441,336 shares of the stock traded hands. The stock has a market cap of $34.72 billion, a P/E ratio of 163.64 and a beta of 0.59. Equinix has a 1-year low of $314.55 and a 1-year high of $455.37.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.41 by $2.83. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equinix had a return on equity of 5.51% and a net margin of 5.18%. On average, analysts forecast that Equinix will post $4.16 EPS for the current year.
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In other Equinix news, COO Charles J. Meyers sold 154 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $426.66, for a total value of $65,705.64. Following the completion of the transaction, the chief operating officer now directly owns 183 shares in the company, valued at approximately $78,078.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Keith D. Taylor sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $436.12, for a total value of $436,120.00. Following the completion of the transaction, the chief financial officer now owns 32,996 shares of the company’s stock, valued at $14,390,215.52. The disclosure for this sale can be found here. Insiders sold a total of 17,853 shares of company stock valued at $7,787,982 over the last three months. 0.58% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC increased its position in Equinix by 1,033.3% in the first quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock valued at $105,000 after buying an additional 217 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its position in Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock valued at $101,000 after buying an additional 81 shares during the last quarter. Advisory Services Network LLC acquired a new position in Equinix during the first quarter valued at $112,000. Guardian Life Insurance Co. of America increased its position in Equinix by 9.9% in the first quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock valued at $120,000 after buying an additional 27 shares during the last quarter. Finally, Smithfield Trust Co. increased its position in Equinix by 19.1% in the second quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock valued at $145,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 97.38% 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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