Equinix (EQIX) PT Raised to $525.00

Equinix (NASDAQ:EQIX) had its target price lifted by analysts at Oppenheimer to $525.00 in a report released on Friday. The firm currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s target price would suggest a potential upside of 17.55% from the stock’s previous close.

Several other research firms have also weighed in on EQIX. Credit Suisse Group reissued an “outperform” rating and set a $515.00 price target (up from $510.00) on shares of Equinix in a research report on Thursday, November 2nd. Berenberg Bank reiterated a “buy” rating and issued a $550.00 price objective on shares of Equinix in a research report on Friday, November 3rd. UBS Group assumed coverage on Equinix in a research report on Wednesday, October 18th. They issued a “neutral” rating for the company. J P Morgan Chase & Co upgraded Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 price objective for the company in a research report on Thursday, November 2nd. Finally, Deutsche Bank assumed coverage on Equinix in a research report on Tuesday, October 24th. They issued a “buy” rating and a $550.00 price objective for the company. Three 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $502.95.

Equinix (NASDAQ EQIX) traded up $0.71 during mid-day trading on Friday, reaching $446.60. The company’s stock had a trading volume of 443,322 shares, compared to its average volume of 448,821. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51. Equinix has a 52 week low of $350.37 and a 52 week high of $495.35. The stock has a market cap of $34,883.63, a P/E ratio of 147.39, a PEG ratio of 1.79 and a beta of 0.46.

Equinix (NASDAQ:EQIX) last issued 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 the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $3.95 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. equities research analysts anticipate that Equinix will post 16.05 EPS for the current fiscal year.

In other Equinix news, insider Michael Earl Campbell sold 200 shares of Equinix stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $462.43, for a total transaction of $92,486.00. Following the transaction, the insider now directly owns 925 shares in the company, valued at $427,747.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 593 shares of Equinix stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $484.99, for a total value of $287,599.07. The disclosure for this sale can be found here. Insiders sold a total of 7,693 shares of company stock worth $3,549,881 over the last 90 days. 0.58% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. Forsta AP Fonden increased its position in shares of Equinix by 33.8% in the third 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 period. Verition Fund Management LLC boosted its position in shares of Equinix by 17.0% during the second quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 119 shares during the last quarter. Amica Pension Fund Board of Trustees bought a new position in shares of Equinix during the third quarter worth $1,235,000. Honeywell International Inc. boosted its position in shares of Equinix by 30.0% during the third quarter. Honeywell International Inc. now owns 22,253 shares of the financial services provider’s stock worth $9,932,000 after acquiring an additional 5,139 shares during the last quarter. Finally, Nicholas Company Inc. bought a new position in shares of Equinix during the second quarter worth $3,201,000. 94.16% of the stock is currently owned by hedge funds and other 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.