Equinix (NASDAQ:EQIX) has been given a $524.00 price target by equities researchers at Credit Suisse Group in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Credit Suisse Group’s price objective suggests a potential upside of 16.94% from the stock’s current price.
The analysts wrote, “We reiterate our outperform rating and increase our target price to $524 (from $515) based on a ~20x P/ 2019E AFFOS multiple.””
Several other equities analysts have also issued reports on the stock. BidaskClub lowered shares of Equinix from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Oppenheimer lifted their target price on shares of Equinix to $525.00 and gave the company an “outperform” rating in a report on Friday, December 22nd. Bank of America reiterated a “buy” rating and set a $520.00 target price (up from $450.21) on shares of Equinix in a report on Wednesday, December 13th. Cowen restated a “buy” rating and issued a $482.00 price objective on shares of Equinix in a report on Friday, November 10th. Finally, Zacks Investment Research upgraded shares of Equinix from a “hold” rating to a “buy” rating and set a $547.00 price objective for the company in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $503.40.
Equinix (EQIX) traded up $12.15 during mid-day trading on Wednesday, hitting $448.10. 858,100 shares of the stock traded hands, compared to its average volume of 598,680. Equinix has a 1 year low of $361.90 and a 1 year high of $495.35. The stock has a market capitalization of $35,060.00, a price-to-earnings ratio of 145.49, a price-to-earnings-growth ratio of 1.51 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 released its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $2.24. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the business earned $3.95 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. analysts forecast that Equinix will post 16.05 earnings per share for the current year.
In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $455.42, for a total transaction of $683,130.00. Following the completion of the sale, the chief financial officer now directly owns 29,596 shares in the company, valued at approximately $13,478,610.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael Earl Campbell sold 200 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $479.37, for a total transaction of $95,874.00. Following the sale, the insider now owns 1,125 shares of the company’s stock, valued at $539,291.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,993 shares of company stock valued at $2,799,469. Company insiders own 0.58% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in EQIX. Capital World Investors grew its position in shares of Equinix by 247.0% during the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after acquiring an additional 761,220 shares during the period. Janus Henderson Group PLC grew its position in shares of 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 valued at $214,150,000 after acquiring an additional 468,162 shares during the period. Egerton Capital UK LLP grew its position in shares of Equinix by 152.0% during the 3rd quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock valued at $217,425,000 after acquiring an additional 293,842 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Equinix by 52.5% during the 3rd quarter. Alyeska Investment Group L.P. now owns 432,015 shares of the financial services provider’s stock valued at $192,808,000 after acquiring an additional 148,638 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in shares of Equinix by 444.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 181,359 shares of the financial services provider’s stock valued at $80,941,000 after acquiring an additional 148,047 shares during the period. Institutional investors and hedge funds own 94.17% 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.
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