Equinix (NASDAQ:EQIX) had its target price boosted by equities research analysts at Oppenheimer to $525.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the financial services provider’s stock. Oppenheimer’s price objective points to a potential upside of 17.55% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Credit Suisse Group set a $515.00 price objective on Equinix and gave the stock a “buy” rating in a research report on Monday, December 18th. Berenberg Bank began coverage on Equinix in a research report on Tuesday, September 26th. They set a “buy” rating and a $550.00 price objective for the company. J P Morgan Chase & Co raised 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. Deutsche Bank began coverage on Equinix in a research report on Tuesday, October 24th. They set a “buy” rating and a $550.00 price objective for the company. Finally, Cowen reissued a “buy” rating and set a $482.00 price objective on shares of Equinix in a research report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $502.95.
Shares of Equinix (NASDAQ EQIX) traded up $0.71 during trading hours on Friday, hitting $446.60. The company’s stock had a trading volume of 443,322 shares, compared to its average volume of 448,821. Equinix has a 12 month low of $350.37 and a 12 month high of $495.35. The firm has a market capitalization of $34,883.63, a PE ratio of 147.39, a P/E/G ratio of 1.79 and a beta of 0.46. 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 (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $3.95 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. equities analysts forecast that Equinix will post 16.05 earnings per share for the current fiscal year.
In other news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total value of $657,690.00. Following the sale, the chief financial officer now directly owns 31,393 shares in the company, valued at approximately $13,764,574.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Earl Campbell sold 200 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $462.43, for a total value of $92,486.00. Following the completion of the sale, the insider now owns 925 shares in the company, valued at $427,747.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,693 shares of company stock valued at $3,549,881. Insiders own 0.58% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in EQIX. Capital World Investors grew its position in Equinix by 247.0% during the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock worth $458,926,000 after acquiring an additional 761,220 shares during the last quarter. Janus Henderson Group PLC grew its position in 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 worth $214,150,000 after acquiring an additional 468,162 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new stake in Equinix during the 2nd quarter worth approximately $13,563,000. Egerton Capital UK LLP grew its position in Equinix by 152.0% during the 3rd quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock worth $217,425,000 after acquiring an additional 293,842 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Equinix by 22.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock worth $507,583,000 after acquiring an additional 214,396 shares during the last quarter. Institutional investors own 94.16% of the company’s stock.
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.
Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.