Equinix Receives “Buy” Rating from Canaccord Genuity (EQIX)
Equinix (NASDAQ:EQIX)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity in a report issued on Thursday, AnalystRatingsNetwork reports.
Equinix (NASDAQ:EQIX) traded up 3.76% during mid-day trading on Thursday, hitting $175.001. 1,959,714 shares of the company’s stock traded hands. Equinix has a one year low of $163.73 and a one year high of $231.56. The stock’s 50-day moving average is $175.0 and its 200-day moving average is $198.. The company has a market cap of $8.641 billion and a P/E ratio of 101.84.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.58 by $0.14. The company had revenue of $540.50 million for the quarter, compared to the consensus estimate of $539.67 million. During the same quarter last year, the company posted $0.58 earnings per share. Equinix’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Equinix will post $1.51 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Equinix in a research note to investors on Tuesday, July 30th. They now have a $189.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Equinix from $250.00 to $240.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. Finally, analysts at Pacific Crest cut their price target on shares of Equinix from $240.00 to $224.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $229.86.
Equinix, Inc (NASDAQ:EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
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