Equinix Rating Reiterated by Evercore Partners (EQIX)
Equinix (NASDAQ:EQIX)‘s stock had its “overweight” rating reaffirmed by investment analysts at Evercore Partners in a note issued to investors on Tuesday, Analyst Ratings Net reports. They currently have a $205.00 target price on the stock. Evercore Partners’ price target points to a potential upside of 13.98% from the stock’s previous close.
Equinix (NASDAQ:EQIX) traded up 2.03% during mid-day trading on Tuesday, hitting $183.50. The stock had a trading volume of 569,948 shares. Equinix has a 52-week low of $152.82 and a 52-week high of $231.56. The stock has a 50-day moving average of $180.9 and a 200-day moving average of $175.. The company has a market cap of $9.065 billion and a P/E ratio of 95.16. Equinix also was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 8,183,030 shares, a decrease of 20.8% from the March 31st total of 10,328,192 shares. Currently, 16.7% of the company’s stock are sold short. Based on an average trading volume of 1,118,738 shares, the short-interest ratio is currently 7.3 days.
Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 19th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.11. The company had revenue of $564.70 million for the quarter, compared to the consensus estimate of $562.58 million. Analysts expect that Equinix will post $3.59 EPS for the current fiscal year.
In other Equinix news, CEO Stephen Smith sold 5,000 shares of the company’s stock on the open market in a transaction dated Friday, April 25th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. Following the sale, the chief executive officer now directly owns 24,440 shares in the company, valued at approximately $4,399,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Nomura reiterated a “buy” rating on shares of Equinix in a research note on Thursday, April 17th. Separately, analysts at Oppenheimer upgraded shares of Equinix from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 15th. They now have a $210.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Equinix in a research note on Friday, February 21st. They now have a $197.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Equinix currently has a consensus rating of “Buy” and an average target price of $220.08.
Equinix, Inc (NASDAQ:EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
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