BidaskClub Lowers Equinix (EQIX) to Strong Sell

Equinix (NASDAQ:EQIX) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. upgraded Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 price target for the company in a research report on Thursday, November 2nd. Credit Suisse Group reissued an “outperform” rating and issued a $515.00 price objective (up from $510.00) on shares of Equinix in a research note on Thursday, November 2nd. Cowen reissued a “buy” rating and issued a $482.00 price objective on shares of Equinix in a research note on Friday, November 10th. Berenberg Bank reissued a “buy” rating and issued a $550.00 price objective on shares of Equinix in a research note on Friday, November 3rd. Finally, Oppenheimer increased their price objective on Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $504.00.

Equinix (EQIX) opened at $441.59 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 2.11. Equinix has a 1 year low of $361.90 and a 1 year high of $495.35. The firm has a market capitalization of $34,357.89, a price-to-earnings ratio of 145.74, a P/E/G ratio of 1.52 and a beta of 0.46.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the company posted $3.95 EPS. Equinix’s revenue for the quarter was up 24.6% on a year-over-year basis. research analysts expect that Equinix will post 16.11 earnings per share for the current fiscal year.

In other news, CFO Keith D. Taylor sold 4,228 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $443.15, for a total transaction of $1,873,638.20. Following the completion of the sale, the chief financial officer now directly owns 29,466 shares of the company’s stock, valued at approximately $13,057,857.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen M. Smith sold 10,706 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $443.10, for a total value of $4,743,828.60. The disclosure for this sale can be found here. Insiders have sold a total of 21,610 shares of company stock valued at $9,699,108 over the last ninety days. Company insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of EQIX. Capital World Investors increased its holdings in shares of Equinix by 247.0% during the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after acquiring an additional 761,220 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Equinix by 1,517.9% during the 2nd quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock valued at $214,150,000 after acquiring an additional 468,162 shares during the last quarter. Egerton Capital UK LLP increased its holdings in shares of Equinix by 152.0% during the 3rd quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock valued at $217,425,000 after acquiring an additional 293,842 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Equinix by 52.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 432,015 shares of the financial services provider’s stock valued at $192,808,000 after acquiring an additional 148,638 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Equinix by 444.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 181,359 shares of the financial services provider’s stock valued at $80,941,000 after acquiring an additional 148,047 shares during the last quarter. 94.07% of the stock is currently owned by institutional investors and hedge funds.

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About Equinix

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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