Equinix Given “Neutral” Rating at Zacks (EQIX)
Equinix (NASDAQ:EQIX)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Friday. They currently have a $228.00 target price on the stock. Zacks‘s target price indicates a potential upside of 4.58% from the stock’s previous close.
Zacks’ analyst wrote, “Equinix’s first-quarter 2014 results surpassed the Zacks Consensus Estimate. Growth across geographies and business segments led to year-over-year revenue growth. Moreover, the company provided an encouraging guidance. Equinix is uniquely positioned to capitalize on the solid data center growth across geographies. The company s proposed REIT conversion is on track. Additionally, the company s associations with Verizon and AT&T remain growth catalysts. However, industry consolidation and a highly leveraged balance sheet remain concerns. Thus, we reiterate our Neutral recommendation on Equinix.”
Equinix (NASDAQ:EQIX) traded up 0.41% during mid-day trading on Friday, hitting $218.01. The stock had a trading volume of 885,400 shares. Equinix has a 52-week low of $152.82 and a 52-week high of $218.84. The stock’s 50-day moving average is $209.4 and its 200-day moving average is $192.0. The company has a market cap of $10.862 billion and a price-to-earnings ratio of 105.19.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.81 earnings per share for the quarter, beating the analysts’ 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 $3.50 EPS for the current fiscal year.
EQIX has been the subject of a number of other recent research reports. Analysts at Barclays initiated coverage on shares of Equinix in a research note on Thursday. They set an “equal weight” rating and a $220.00 price target on the stock. Separately, analysts at Raymond James raised their price target on shares of Equinix from $225.00 to $240.00 in a research note on Friday, June 27th. They now have a “strong-buy” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Equinix from $210.00 to $225.00 in a research note on Wednesday, June 25th. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $224.38.
Equinix, Inc (NASDAQ:EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
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