Equinix (NASDAQ:EQIX)‘s stock had its “buy” rating restated by stock analysts at Bank of America in a report issued on Wednesday. They currently have a $520.00 price objective on the financial services provider’s stock, up from their prior price objective of $450.21. Bank of America’s price objective would suggest a potential upside of 15.50% from the company’s current price.
Several other analysts have also recently commented on EQIX. BidaskClub upgraded Equinix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Berenberg Bank started coverage on Equinix in a research note on Tuesday, September 26th. They issued a “buy” rating and a $550.00 price target on the stock. Jefferies Group reaffirmed a “hold” rating and issued a $440.00 price target on shares of Equinix in a research note on Thursday, October 12th. Barclays raised Equinix from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $475.00 to $505.00 in a research note on Wednesday, October 18th. Finally, UBS started coverage on Equinix in a research note on Wednesday, October 18th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Equinix presently has a consensus rating of “Buy” and a consensus target price of $501.70.
Shares of Equinix (NASDAQ EQIX) traded up $0.63 during mid-day trading on Wednesday, reaching $450.21. The company had a trading volume of 327,500 shares, compared to its average volume of 491,445. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. The stock has a market capitalization of $35,172.30, a PE ratio of 25.29, a P/E/G ratio of 1.81 and a beta of 0.46. Equinix has a 52 week low of $347.99 and a 52 week high of $495.35.
In other Equinix news, insider Michael Earl Campbell sold 200 shares of the firm’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $463.61, for a total transaction of $92,722.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total value of $657,690.00. Following the transaction, the chief financial officer now directly owns 31,393 shares of the company’s stock, valued at approximately $13,764,574.78. The disclosure for this sale can be found here. Insiders sold a total of 5,993 shares of company stock valued at $2,770,635 over the last three months. Insiders own 0.58% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in EQIX. Bessemer Group Inc. increased its position in shares of Equinix by 145.0% during the second quarter. Bessemer Group Inc. now owns 1,247 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 738 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Equinix by 27.0% in the second quarter. Global X Management Co. LLC now owns 936 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 199 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Equinix by 8.0% in the second quarter. Teacher Retirement System of Texas now owns 806 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 60 shares during the last quarter. Conning Inc. increased its stake in shares of Equinix by 0.6% in the second quarter. Conning Inc. now owns 1,550 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 10 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in Equinix by 24.9% in the second quarter. State of Wisconsin Investment Board now owns 92,548 shares of the financial services provider’s stock worth $39,718,000 after purchasing an additional 18,472 shares in the last quarter. 94.34% of the stock is owned by institutional investors.
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Equinix Company Profile
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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