Equinix Sees Significant Drop in Short Interest (EQIX)
Equinix (NASDAQ:EQIX) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 7,076,285 shares, a drop of 14.2% from the April 30th total of 8,247,906 shares, AR Network reports. Based on an average trading volume of 772,051 shares, the days-to-cover ratio is currently 9.2 days. Approximately 14.5% of the company’s shares are short sold.
A number of analysts have recently weighed in on EQIX shares. Analysts at Zacks reiterated a “neutral” rating on shares of Equinix in a research note on Friday, May 2nd. They now have a $198.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Equinix in a research note on Thursday, May 1st. Finally, analysts at Evercore Partners reiterated an “overweight” rating on shares of Equinix in a research note on Tuesday, April 29th. They now have a $205.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $219.27.
Equinix (NASDAQ:EQIX) opened at 196.72 on Wednesday. Equinix has a 1-year low of $152.82 and a 1-year high of $205.36. The stock’s 50-day moving average is $189.7 and its 200-day moving average is $181.4. The company has a market cap of $9.801 billion and a price-to-earnings ratio of 96.93.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.09. The company had revenue of $580.00 million for the quarter, compared to the consensus estimate of $574.85 million. Analysts expect that Equinix will post $3.58 EPS 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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