Equinix (NASDAQ:EQIX) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday, June 19th.
A number of other analysts have also weighed in on the stock. Deutsche Bank raised their price target on shares of Equinix from $545.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, April 17th. Deutsche Bank reduced their price objective on shares of Equinix from $550.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday, May 31st. Credit Suisse Group set a $525.00 price target on shares of Equinix and gave the stock a “buy” rating in a research report on Thursday, May 31st. Moffett Nathanson began coverage on shares of Equinix in a research report on Monday, April 9th. They issued a “buy” rating and a $515.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Equinix from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $504.86.
Equinix stock opened at $429.89 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.36 and a current ratio of 2.36. Equinix has a one year low of $370.79 and a one year high of $495.35. The firm has a market cap of $33.93 billion, a price-to-earnings ratio of 23.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, May 2nd. The financial services provider reported $0.79 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.70 by ($2.91). The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Equinix had a net margin of 5.48% and a return on equity of 7.00%. The firm’s quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.14 EPS. sell-side analysts predict that Equinix will post 18.9 EPS for the current fiscal year.
In other news, insider Yau Tat Lee sold 5,960 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $402.69, for a total value of $2,400,032.40. Following the completion of the transaction, the insider now directly owns 6,718 shares in the company, valued at $2,705,271.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction that occurred on Wednesday, June 27th. The shares were sold at an average price of $429.06, for a total transaction of $643,590.00. Following the sale, the chief financial officer now owns 24,141 shares of the company’s stock, valued at $10,357,937.46. The disclosure for this sale can be found here. Insiders have sold 12,660 shares of company stock worth $5,136,550 over the last three months. 0.51% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. OppenheimerFunds Inc. increased its stake in shares of Equinix by 2.0% in the fourth quarter. OppenheimerFunds Inc. now owns 61,543 shares of the financial services provider’s stock worth $27,892,000 after buying an additional 1,184 shares during the period. Russell Investments Group Ltd. increased its position in Equinix by 4.2% during the 1st quarter. Russell Investments Group Ltd. now owns 310,100 shares of the financial services provider’s stock valued at $129,478,000 after purchasing an additional 12,612 shares during the period. Deutsche Bank AG increased its position in Equinix by 21.9% during the 4th quarter. Deutsche Bank AG now owns 587,580 shares of the financial services provider’s stock valued at $266,297,000 after purchasing an additional 105,654 shares during the period. Vista Equity Partners Management LLC purchased a new position in Equinix during the 1st quarter valued at $5,384,000. Finally, UBS Asset Management Americas Inc. increased its position in Equinix by 3.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 247,608 shares of the financial services provider’s stock valued at $112,221,000 after purchasing an additional 9,320 shares during the period. 97.36% of the stock is currently owned by institutional investors.
Equinix Company Profile
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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