BidaskClub upgraded shares of Equinix (NASDAQ:EQIX) from a strong sell rating to a sell rating in a research report sent to investors on Thursday.

EQIX has been the subject of several other reports. Oppenheimer raised their target price on shares of Equinix to $525.00 and gave the company an outperform rating in a research note on Friday, December 22nd. Credit Suisse Group restated a buy rating and issued a $519.00 target price on shares of Equinix in a research note on Sunday, February 25th. UBS upgraded shares of Equinix from a neutral rating to a buy rating and set a $510.00 target price for the company in a research note on Monday, January 29th. Barclays restated a buy rating and issued a $517.00 target price on shares of Equinix in a research note on Friday, January 19th. Finally, Zacks Investment Research upgraded shares of Equinix from a hold rating to a buy rating and set a $456.00 price objective for the company in a research note on Monday, February 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $499.00.

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Shares of Equinix (NASDAQ:EQIX) opened at $419.89 on Thursday. The firm has a market cap of $33,267.04, a P/E ratio of 140.43, a price-to-earnings-growth ratio of 1.27 and a beta of 0.56. Equinix has a one year low of $370.79 and a one year high of $495.35. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.45.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 14th. The financial services provider reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.87 by ($3.05). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. Equinix had a net margin of 5.33% and a return on equity of 6.54%. Equinix’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business earned $4.08 earnings per share. equities research analysts anticipate that Equinix will post 18.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, February 26th will be given a dividend of $2.28 per share. The ex-dividend date is Friday, February 23rd. This is an increase from Equinix’s previous quarterly dividend of $2.00. This represents a $9.12 dividend on an annualized basis and a yield of 2.17%. Equinix’s payout ratio is currently 305.02%.

In related news, insider Charles J. Meyers sold 2,196 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $450.00, for a total transaction of $988,200.00. Following the completion of the transaction, the insider now directly owns 1,844 shares in the company, valued at $829,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karl Strohmeyer sold 2,717 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $420.00, for a total transaction of $1,141,140.00. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at $2,232,720. The disclosure for this sale can be found here. Insiders have sold 37,499 shares of company stock valued at $15,869,591 over the last 90 days. 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 stock. Cambridge Investment Research Advisors Inc. acquired a new position in Equinix during the fourth quarter valued at $201,000. Xact Kapitalforvaltning AB lifted its position in Equinix by 6.0% during the fourth quarter. Xact Kapitalforvaltning AB now owns 14,884 shares of the financial services provider’s stock valued at $6,746,000 after purchasing an additional 840 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Equinix by 5.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 58,263 shares of the financial services provider’s stock valued at $26,406,000 after purchasing an additional 3,091 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in Equinix by 62.2% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 3,910 shares of the financial services provider’s stock valued at $1,772,000 after purchasing an additional 1,500 shares during the period. Finally, Alkeon Capital Management LLC lifted its position in Equinix by 17.4% during the fourth quarter. Alkeon Capital Management LLC now owns 516,765 shares of the financial services provider’s stock valued at $234,208,000 after purchasing an additional 76,423 shares during the period. Institutional investors own 96.13% of the company’s stock.

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About Equinix

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.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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