Equinix (EQIX) Upgraded by UBS Group to “Buy”

Equinix (NASDAQ:EQIX) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a report released on Monday, www.benzinga.com reports. The firm presently has a $510.00 target price on the financial services provider’s stock. UBS Group’s price objective suggests a potential upside of 17.20% from the company’s current price.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 target price for the company in a 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 report on Thursday, November 2nd. BidaskClub lowered Equinix from a “sell” rating to a “strong sell” rating in a report on Thursday. Cowen reissued a “buy” rating and issued a $482.00 price objective on shares of Equinix in a report on Friday, November 10th. Finally, Berenberg Bank reissued a “buy” rating and issued a $550.00 price objective on shares of Equinix in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the company’s stock. Equinix has a consensus rating of “Buy” and an average target price of $504.29.

Equinix (EQIX) traded down $6.43 during trading hours on Monday, hitting $435.16. The stock had a trading volume of 629,153 shares, compared to its average volume of 680,023. The company has a market capitalization of $34,547.22, a price-to-earnings ratio of 143.62, a PEG ratio of 1.53 and a beta of 0.46. Equinix has a 52 week low of $361.90 and a 52 week high of $495.35. 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 (NASDAQ:EQIX) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $2.24. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.95 earnings per share. sell-side analysts forecast that Equinix will post 16.11 EPS for the current fiscal year.

In other news, insider Michael Earl Campbell sold 200 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $479.37, for a total transaction of $95,874.00. Following the completion of the sale, the insider now owns 1,125 shares in the company, valued at approximately $539,291.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 4,228 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $443.15, for a total value of $1,873,638.20. Following the sale, the chief financial officer now owns 29,466 shares of the company’s stock, valued at approximately $13,057,857.90. 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 in the last quarter. Insiders own 0.58% of the company’s stock.

Large investors have recently made changes to their positions in the company. Forsta AP Fonden lifted its position in shares of Equinix by 33.8% during the 3rd quarter. Forsta AP Fonden now owns 30,100 shares of the financial services provider’s stock valued at $13,434,000 after acquiring an additional 7,600 shares during the last quarter. Amica Pension Fund Board of Trustees purchased a new stake in shares of Equinix in the third quarter valued at $1,235,000. Verition Fund Management LLC lifted its holdings in shares of Equinix by 17.0% in the second quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 119 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Equinix by 21.4% in the third quarter. Stifel Financial Corp now owns 3,552 shares of the financial services provider’s stock valued at $1,585,000 after purchasing an additional 627 shares in the last quarter. Finally, Honeywell International Inc. lifted its holdings in shares of Equinix by 30.0% in the third quarter. Honeywell International Inc. now owns 22,253 shares of the financial services provider’s stock valued at $9,932,000 after purchasing an additional 5,139 shares in the last quarter. Institutional investors own 94.14% of the company’s stock.

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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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