Canaccord Genuity Increases Equinix Price Target to $259.00 (EQIX)
Equities research analysts at Canaccord Genuity increased their price objective on shares of Equinix (NASDAQ:EQIX) from $240.00 to $259.00 in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target suggests a potential upside of 22.53% from the company’s current price.
A number of other analysts have also recently weighed in on EQIX. Analysts at RBC Capital raised their price target on shares of Equinix from $215.00 to $245.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Stephens downgraded shares of Equinix from an “overweight” rating to an “equal weight” rating in a research note on Thursday. They now have a $252.00 price target on the stock, up previously from $222.00. Finally, 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. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $220.15.
Shares of Equinix (NASDAQ:EQIX) traded down 1.46% on Thursday, hitting $211.38. The stock had a trading volume of 617,837 shares. Equinix has a 52-week low of $152.82 and a 52-week high of $220.85. The stock has a 50-day moving average of $211. and a 200-day moving average of $193.3. The company has a market cap of $10.851 billion and a P/E ratio of 77.14.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.22 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.81 by $0.59. The company had revenue of $605.16 million for the quarter, compared to the consensus estimate of $595.91 million. During the same quarter last year, the company posted ($0.58) earnings per share. Equinix’s revenue was up 14.4% compared to the same quarter last year. Analysts expect that Equinix will post $2.98 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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