Equinix Price Target Cut to $220.00 by Analysts at Evercore Partners (EQIX)
Research analysts at Evercore Partners cut their target price on shares of Equinix (NASDAQ:EQIX) from $235.00 to $220.00 in a report released on Thursday, AmericanBankingNews.com reports. The firm currently has an “overweight” rating on the stock. Evercore Partners’ price target indicates a potential upside of 28.25% from the company’s current price.
A number of other firms have also recently commented on EQIX. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Equinix in a research note to investors on Thursday. 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. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $228.79.
Shares of Equinix (NASDAQ:EQIX) traded down 1.45% during mid-day trading on Thursday, hitting $171.54. 861,154 shares of the company’s stock traded hands. Equinix has a 52-week low of $163.73 and a 52-week 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 $8.501 billion and a price-to-earnings ratio of 97.46.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.72 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that Equinix will post $1.59 earnings per share for the current fiscal year.
Equinix, Inc (NASDAQ:EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
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