Equinix, Inc. (EQIX) PT Raised to $505.00 at Royal Bank Of Canada
Equinix, Inc. (NASDAQ:EQIX) had its price objective increased by research analysts at Royal Bank Of Canada from $470.00 to $505.00 in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 14.91% from the company’s current price.
EQIX has been the topic of a number of other research reports. Mitsubishi UFJ Financial Group initiated coverage on shares of Equinix in a research note on Tuesday, April 25th. They set an “overweight” rating and a $433.00 price target on the stock. Zacks Investment Research downgraded shares of Equinix from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Cowen and Company lifted their price objective on Equinix from $453.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, April 28th. Jefferies Group LLC lifted their price objective on Equinix from $378.00 to $410.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $465.00 price objective (up from $435.00) on shares of Equinix in a report on Tuesday, April 25th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $464.78.
Equinix (EQIX) traded up 0.04% during mid-day trading on Monday, hitting $439.66. 86,357 shares of the company were exchanged. Equinix has a 12-month low of $314.55 and a 12-month high of $459.00. The stock’s 50 day moving average is $437.69 and its 200-day moving average is $412.12. The company has a market cap of $34.27 billion, a price-to-earnings ratio of 161.46 and a beta of 0.59.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.41 by $1.18. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. Equities research analysts predict that Equinix will post $3.94 EPS for the current year.
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In other Equinix news, Director Christopher B. Paisley sold 500 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $439.39, for a total transaction of $219,695.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen M. Smith sold 5,348 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $432.60, for a total value of $2,313,544.80. Following the sale, the chief executive officer now directly owns 18,967 shares of the company’s stock, valued at $8,205,124.20. The disclosure for this sale can be found here. Insiders have sold a total of 22,143 shares of company stock valued at $9,703,456 over the last three months. Company insiders own 0.58% of the company’s stock.
A number of hedge funds have recently made changes to their positions in EQIX. Vanguard Group Inc. boosted its stake in shares of Equinix by 9.9% in the first quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock valued at $5,279,456,000 after buying an additional 1,192,961 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Equinix by 3,737.0% in the first quarter. BlackRock Inc. now owns 6,295,590 shares of the financial services provider’s stock valued at $2,520,566,000 after buying an additional 6,131,516 shares in the last quarter. State Street Corp boosted its stake in shares of Equinix by 5.2% in the first quarter. State Street Corp now owns 3,007,201 shares of the financial services provider’s stock valued at $1,204,001,000 after buying an additional 149,260 shares in the last quarter. FMR LLC boosted its stake in shares of Equinix by 6.1% in the first quarter. FMR LLC now owns 2,727,291 shares of the financial services provider’s stock valued at $1,091,925,000 after buying an additional 155,793 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Equinix by 5.6% in the first quarter. Principal Financial Group Inc. now owns 1,909,287 shares of the financial services provider’s stock valued at $763,459,000 after buying an additional 102,082 shares in the last quarter. 95.31% of the stock is owned by hedge funds and other institutional investors.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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