Equinix (EQIX) Given “Buy” Rating at Bank of America

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.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $3.95 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. research analysts anticipate that Equinix will post 16.05 EPS for the current year.

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.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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