Equinix (NASDAQ:EQIX) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, ValuEngine reports.

EQIX has been the subject of several other reports. Argus initiated coverage on Equinix in a research report on Monday, June 3rd. They set a “buy” rating and a $550.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on Equinix from $524.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on Equinix from $542.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets reaffirmed a “buy” rating and set a $520.00 target price on shares of Equinix in a research note on Tuesday, July 2nd. Finally, Mitsubishi UFJ Financial Group assumed coverage on Equinix in a research report on Tuesday. They set an “overweight” rating and a $605.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $533.58.

NASDAQ:EQIX traded down $6.77 during mid-day trading on Tuesday, hitting $531.44. The stock had a trading volume of 441,441 shares, compared to its average volume of 456,404. The stock has a market capitalization of $42.97 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 1.84 and a beta of 0.70. The company has a 50 day simple moving average of $537.88 and a 200-day simple moving average of $490.65. Equinix has a 52 week low of $335.29 and a 52 week high of $567.89. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the consensus estimate of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company posted $3.63 EPS. Equinix’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Equinix will post 20.7 earnings per share for the current year.

In other news, insider Brandi Galvin Morandi sold 2,960 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $516.44, for a total value of $1,528,662.40. Following the sale, the insider now owns 19,253 shares of the company’s stock, valued at approximately $9,943,019.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles J. Meyers sold 1,928 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $558.57, for a total value of $1,076,922.96. Following the completion of the sale, the chief executive officer now owns 7,810 shares of the company’s stock, valued at approximately $4,362,431.70. The disclosure for this sale can be found here. Insiders sold 12,409 shares of company stock valued at $6,727,033 over the last 90 days. 0.49% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Equinix in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. bought a new stake in Equinix during the second quarter worth approximately $26,000. Carroll Financial Associates Inc. grew its position in Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after buying an additional 21 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Equinix in the second quarter worth approximately $29,000. Finally, Meridian Wealth Management LLC acquired a new position in Equinix in the first quarter worth approximately $28,000. 98.41% of the stock is owned by institutional investors and hedge funds.

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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