Equinix (NASDAQ:EQIX) had its price objective boosted by Citigroup from $482.00 to $508.00 in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Several other equities research analysts also recently commented on the stock. BidaskClub upgraded shares of Equinix from a buy rating to a strong-buy rating in a research report on Friday, April 5th. Credit Suisse Group boosted their price target on shares of Equinix from $467.00 to $474.00 and gave the stock an outperform rating in a research report on Thursday, February 14th. Berenberg Bank initiated coverage on shares of Equinix in a research report on Tuesday, January 8th. They issued a buy rating and a $477.00 price target on the stock. Zacks Investment Research downgraded shares of Equinix from a hold rating to a sell rating in a research report on Monday, February 11th. Finally, Wells Fargo & Co boosted their price target on shares of Equinix from $475.00 to $500.00 and gave the stock an outperform rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $493.08.

NASDAQ:EQIX opened at $450.21 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.00 and a current ratio of 1.00. Equinix has a one year low of $335.29 and a one year high of $467.99. The company has a market cap of $36.01 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 1.58 and a beta of 0.91.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 13th. The financial services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $4.46 by ($3.10). Equinix had a return on equity of 6.88% and a net margin of 7.20%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts expect that Equinix will post 20.89 earnings per share for the current fiscal year.

In other news, insider Simon Miller sold 378 shares of Equinix stock in a transaction on Monday, March 4th. The shares were sold at an average price of $426.92, for a total value of $161,375.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Karl Strohmeyer sold 1,135 shares of Equinix stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $426.96, for a total transaction of $484,599.60. The disclosure for this sale can be found here. Insiders sold a total of 18,143 shares of company stock worth $7,776,844 in the last 90 days. Corporate insiders own 0.51% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc increased its stake in shares of Equinix by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 10,175,655 shares of the financial services provider’s stock valued at $4,404,940,000 after acquiring an additional 27,284 shares in the last quarter. BlackRock Inc. increased its stake in shares of Equinix by 0.5% in the 4th quarter. BlackRock Inc. now owns 5,952,156 shares of the financial services provider’s stock valued at $2,098,492,000 after acquiring an additional 26,953 shares in the last quarter. Cohen & Steers Inc. increased its stake in shares of Equinix by 7.4% in the 4th quarter. Cohen & Steers Inc. now owns 3,161,793 shares of the financial services provider’s stock valued at $1,114,722,000 after acquiring an additional 218,971 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Equinix by 10.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,225,145 shares of the financial services provider’s stock valued at $530,354,000 after acquiring an additional 112,196 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Equinix by 19.7% in the 4th quarter. Northern Trust Corp now owns 1,116,449 shares of the financial services provider’s stock valued at $393,617,000 after acquiring an additional 183,479 shares in the last quarter. Institutional investors own 98.92% of the company’s stock.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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