Equinix Price Target Raised to $248.00 at Raymond James (EQIX)
Investment analysts at Raymond James hoisted their target price on shares of Equinix (NASDAQ:EQIX) from $240.00 to $248.00 in a note issued to investors on Thursday. The firm currently has a “strong-buy” rating on the stock. Raymond James’ price target would indicate a potential upside of 17.32% from the stock’s previous close.
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 1-year low of $152.82 and a 1-year 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 price-to-earnings 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.
A number of other analysts have also recently weighed in on EQIX. Analysts at Pacific Crest raised their price target on shares of Equinix from $48.00 to $55.00 in a research note on Thursday. Separately, analysts at Nomura raised their price target on shares of Equinix from $220.00 to $250.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Equinix from $240.00 to $259.00 in a research note on Thursday. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Equinix currently has an average rating of “Buy” and an average price target of $220.15.
Equinix, Inc (NASDAQ:EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
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