Equinix, Inc. (EQIX) Upgraded at BidaskClub
Equinix, Inc. (NASDAQ:EQIX) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.
Other analysts have also issued research reports about the stock. Barclays PLC restated an “equal weight” rating and issued a $475.00 target price (up previously from $410.00) on shares of Equinix in a research report on Wednesday, August 9th. Nomura began coverage on shares of Equinix in a research report on Thursday, May 25th. They issued a “buy” rating and a $490.00 target price on the stock. Canaccord Genuity restated a “buy” rating and issued a $525.00 target price on shares of Equinix in a research report on Monday, June 12th. Cowen and Company restated a “buy” rating on shares of Equinix in a research report on Friday, July 21st. Finally, Royal Bank Of Canada raised their target price on shares of Equinix from $470.00 to $505.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $464.78.
Shares of Equinix (NASDAQ EQIX) opened at 461.80 on Thursday. The firm has a market capitalization of $36.00 billion, a PE ratio of 169.59 and a beta of 0.59. The company has a 50-day moving average price of $442.48 and a 200 day moving average price of $416.62. Equinix has a 52-week low of $314.55 and a 52-week high of $462.23.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $1.18. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. Analysts expect that Equinix will post $3.89 EPS for the current fiscal year.
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In related news, insider Yau Tat Lee sold 5,875 shares of Equinix stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $438.70, for a total transaction of $2,577,362.50. Following the completion of the transaction, the insider now owns 5,485 shares of the company’s stock, valued at $2,406,269.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen M. Smith sold 5,348 shares of Equinix stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $432.60, for a total transaction of $2,313,544.80. Following the transaction, the chief executive officer now directly owns 18,967 shares of the company’s stock, valued at approximately $8,205,124.20. The disclosure for this sale can be found here. Insiders have sold 22,143 shares of company stock valued at $9,703,456 in the last three months. 0.58% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in EQIX. Sentry Investment Management LLC increased its position in shares of Equinix by 13.9% in the second quarter. Sentry Investment Management LLC now owns 6,134 shares of the financial services provider’s stock worth $2,632,000 after buying an additional 747 shares in the last quarter. Ashford Capital Management Inc. increased its position in shares of Equinix by 0.7% in the second quarter. Ashford Capital Management Inc. now owns 5,295 shares of the financial services provider’s stock worth $2,272,000 after buying an additional 37 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Equinix by 25.9% in the second quarter. Toronto Dominion Bank now owns 26,388 shares of the financial services provider’s stock worth $11,322,000 after buying an additional 5,431 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Equinix during the second quarter worth $275,000. Finally, Public Employees Retirement System of Ohio increased its position in shares of Equinix by 50.7% in the second quarter. Public Employees Retirement System of Ohio now owns 53,511 shares of the financial services provider’s stock worth $22,965,000 after buying an additional 18,000 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.
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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