Equinix (NASDAQ:EQIX) has been assigned a $515.00 price target by research analysts at Credit Suisse Group in a report issued on Monday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 15.32% from the company’s previous close.
Several other research analysts have also weighed in on EQIX. Bank of America reaffirmed a “buy” rating and issued a $520.00 target price (up from $450.21) on shares of Equinix in a research report on Wednesday, December 13th. BidaskClub upgraded Equinix from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Oppenheimer increased their price target on Equinix from $472.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Berenberg Bank started coverage on Equinix in a report on Tuesday, September 26th. They issued a “buy” rating and a $550.00 price target for the company. Finally, Citigroup increased their price target on Equinix from $518.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Equinix presently has an average rating of “Buy” and a consensus target price of $502.95.
Shares of Equinix (NASDAQ EQIX) traded up $0.71 on Monday, hitting $446.60. The company 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. The stock has a market cap of $34,883.63, a price-to-earnings ratio of 147.39, a P/E/G ratio of 1.79 and a beta of 0.46. Equinix has a twelve month low of $350.37 and a twelve month high of $495.35.
In other news, insider Michael Earl Campbell sold 200 shares of the stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $463.61, for a total transaction of $92,722.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total transaction of $657,690.00. Following the transaction, the chief financial officer now directly owns 31,393 shares in the company, valued at approximately $13,764,574.78. The disclosure for this sale can be found here. Insiders have sold 7,693 shares of company stock valued at $3,549,881 over the last 90 days. Insiders own 0.58% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Zions Bancorporation raised its holdings in shares of Equinix by 2,550.0% during the third quarter. Zions Bancorporation now owns 265 shares of the financial services provider’s stock valued at $118,000 after buying an additional 255 shares during the last quarter. San Francisco Sentry Investment Group CA bought a new stake in shares of Equinix during the second quarter valued at approximately $127,000. Amica Retiree Medical Trust bought a new stake in shares of Equinix during the third quarter valued at approximately $188,000. Commerce Bank bought a new stake in shares of Equinix during the third quarter valued at approximately $203,000. Finally, Bienville Capital Management LLC bought a new stake in shares of Equinix during the second quarter valued at approximately $213,000. 94.16% 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.
