Equinix Short Interest Down 13.6% in July (EQIX)
Shares of Equinix (NASDAQ:EQIX) were the target of a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 5,661,316 shares, a decrease of 13.6% from the July 15th total of 6,548,916 shares, Stock Ratings Network.com reports. Based on an average daily volume of 628,475 shares, the days-to-cover ratio is presently 9.0 days. Approximately 11.5% of the shares of the stock are short sold.
In other Equinix news, Insider Eric Schwartz sold 12,035 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $210.41, for a total transaction of $2,532,284.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Equinix in a research note on Thursday, July 31st. They now have a $245.00 price target on the stock, up previously from $230.00. Separately, analysts at Raymond James raised their price target on shares of Equinix from $240.00 to $248.00 in a research note on Thursday, July 31st. They now have a “strong-buy” rating on the stock. Finally, analysts at Pacific Crest raised their price target on shares of Equinix from $48.00 to $55.00 in a research note on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Equinix presently has a consensus rating of “Buy” and an average target price of $220.15.
Equinix (NASDAQ:EQIX) opened at 212.625 on Wednesday. Equinix has a one year low of $152.82 and a one year high of $220.85. The stock’s 50-day moving average is $211.9 and its 200-day moving average is $195.0. The company has a market cap of $11.310 billion and a price-to-earnings ratio of 76.01.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the 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 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. Analysts expect that Equinix will post $2.99 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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