Equinix (NASDAQ:EQIX) had its target price lifted by Wells Fargo & Co from $620.00 to $675.00 in a research note issued to investors on Thursday morning, The Fly reports. The brokerage currently has an overweight rating on the financial services provider’s stock.
Several other research firms have also recently issued reports on EQIX. Credit Suisse Group reiterated a buy rating and issued a $581.00 price target on shares of Equinix in a report on Wednesday, December 4th. FBN Securities raised their price target on Equinix from $550.00 to $625.00 and gave the company an outperform rating in a report on Monday, November 4th. Stifel Nicolaus reiterated a buy rating and issued a $620.00 price target on shares of Equinix in a report on Thursday, November 14th. Raymond James raised their price target on Equinix from $560.00 to $625.00 and gave the company a strong-buy rating in a report on Thursday, October 31st. Finally, Nomura raised their price target on Equinix from $575.00 to $625.00 and gave the company a buy rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $613.55.
Shares of EQIX stock traded up $12.90 during trading hours on Thursday, reaching $648.65. 438,565 shares of the company’s stock were exchanged, compared to its average volume of 376,300. The business has a fifty day moving average price of $593.77 and a 200-day moving average price of $565.00. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $49.49 billion, a P/E ratio of 109.94, a P/E/G ratio of 2.03 and a beta of 0.64. Equinix has a fifty-two week low of $399.57 and a fifty-two week high of $636.43.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.10). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. As a group, research analysts expect that Equinix will post 20.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 26th will be paid a $2.66 dividend. The ex-dividend date is Tuesday, February 25th. This is an increase from Equinix’s previous quarterly dividend of $2.46. This represents a $10.64 annualized dividend and a yield of 1.64%. Equinix’s payout ratio is 47.56%.
In other Equinix news, CFO Keith D. Taylor sold 3,383 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $592.28, for a total value of $2,003,683.24. Following the completion of the transaction, the chief financial officer now owns 28,430 shares of the company’s stock, valued at approximately $16,838,520.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles J. Meyers sold 5,562 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $592.53, for a total value of $3,295,651.86. Following the completion of the transaction, the chief executive officer now directly owns 8,567 shares of the company’s stock, valued at approximately $5,076,204.51. The disclosure for this sale can be found here. Insiders sold a total of 17,159 shares of company stock valued at $10,149,833 over the last ninety days. Insiders own 0.49% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Tarbox Family Office Inc. raised its stake in Equinix by 181.3% during the 3rd quarter. Tarbox Family Office Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 29 shares during the period. Princeton Global Asset Management LLC acquired a new position in Equinix during the 4th quarter worth approximately $26,000. Savior LLC acquired a new position in Equinix during the 4th quarter worth approximately $32,000. TCI Wealth Advisors Inc. raised its stake in shares of Equinix by 81.1% in the fourth quarter. TCI Wealth Advisors Inc. now owns 67 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Finally, Baystate Wealth Management LLC raised its stake in shares of Equinix by 91.9% in the third quarter. Baystate Wealth Management LLC now owns 71 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 99.37% of the company’s stock.
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 52 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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