Equinix, Inc. (EQIX) Rating Increased to Overweight at Barclays PLC
Barclays PLC upgraded shares of Equinix, Inc. (NASDAQ:EQIX) from an equal weight rating to an overweight rating in a research report report published on Wednesday morning, Marketbeat reports. They currently have $505.00 target price on the financial services provider’s stock, up from their prior target price of $475.00.
Other research analysts also recently issued reports about the company. BidaskClub downgraded Equinix from a strong-buy rating to a buy rating in a research note on Tuesday, August 8th. Royal Bank Of Canada lifted their target price on Equinix from $470.00 to $505.00 and gave the stock an outperform rating in a research note on Monday, August 7th. Jefferies Group LLC reiterated a hold rating and set a $410.00 target price on shares of Equinix in a research note on Tuesday, July 4th. Berenberg Bank began coverage on Equinix in a research note on Tuesday, September 26th. They set a buy rating and a $550.00 target price for the company. Finally, Cowen and Company reiterated a buy rating on shares of Equinix in a research note on Friday, July 21st. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $473.61.
Shares of Equinix (NASDAQ:EQIX) opened at 468.76 on Wednesday. The firm has a market capitalization of $36.54 billion, a price-to-earnings ratio of 172.15 and a beta of 0.55. The company has a 50-day moving average price of $454.89 and a 200 day moving average price of $438.36. Equinix has a 12-month low of $314.55 and a 12-month high of $475.28.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.41 by $1.18. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. Equities research analysts expect that Equinix will post $3.82 earnings per share for the current fiscal year.
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In other news, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Earl Campbell sold 1,427 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $459.75, for a total value of $656,063.25. The disclosure for this sale can be found here. Insiders sold a total of 9,911 shares of company stock worth $4,469,647 in the last quarter. Corporate insiders own 0.58% of the company’s stock.
Large investors have recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd lifted its stake in shares of Equinix by 47.4% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 81 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Equinix by 1,033.3% in the 1st quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 217 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in shares of Equinix in the 2nd quarter valued at about $127,000. Smithfield Trust Co. lifted its stake in shares of Equinix by 19.1% in the 2nd quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 54 shares during the period. Finally, Aureus Asset Management LLC acquired a new position in shares of Equinix in the 1st quarter valued at about $208,000. 96.44% of the stock is currently owned by institutional investors.
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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