Equinix (EQIX) Announces Quarterly Earnings, Misses Expectations By $0.59 EPS
Equinix (NASDAQ:EQIX) announced its earnings results on Wednesday. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.59, Analyst Ratings News reports. The company had revenue of $605.16 million for the quarter, compared to the consensus estimate of $595.91 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 14.4% on a year-over-year basis.
Equinix (NASDAQ:EQIX) traded up 0.31% during mid-day trading on Wednesday, hitting $215.75. 451,886 shares of the company’s stock traded hands. Equinix has a 52 week low of $152.82 and a 52 week high of $219.61. The stock’s 50-day moving average is $210.2 and its 200-day moving average is $192.7. The company has a market cap of $10.749 billion and a P/E ratio of 104.21.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Equinix in a research note on Friday, July 25th. They now have a $228.00 price target on the stock. On a related note, analysts at Barclays initiated coverage on shares of Equinix in a research note on Thursday, July 24th. They set an “equal weight” rating and a $220.00 price target on the stock. Finally, 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. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $221.20.
Equinix, Inc (NASDAQ:EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
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