Equinix (EQIX) Earns Buy Rating from Barclays

Barclays reissued their buy rating on shares of Equinix (NASDAQ:EQIX) in a research note issued to investors on Friday morning. Barclays currently has a $517.00 target price on the financial services provider’s stock.

Several other equities research analysts have also issued reports on EQIX. Credit Suisse Group set a $524.00 price target on shares of Equinix and gave the company an outperform rating in a report on Wednesday, January 17th. Oppenheimer lifted their price target on shares of Equinix from $472.00 to $500.00 and gave the company an outperform rating in a report on Thursday, November 2nd. BidaskClub lowered shares of Equinix from a hold rating to a sell rating in a report on Thursday, January 11th. Berenberg Bank began coverage on shares of Equinix in a report on Tuesday, September 26th. They set a buy rating and a $550.00 price target on the stock. Finally, Citigroup lifted their price target on shares of Equinix from $518.00 to $530.00 and gave the company a buy rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $504.00.

Equinix (NASDAQ:EQIX) traded up $0.44 during mid-day trading on Friday, reaching $437.89. 599,200 shares of the company’s stock traded hands, compared to its average volume of 616,985. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.51. Equinix has a 52-week low of $361.90 and a 52-week high of $495.35. The company has a market cap of $34,260.00, a price-to-earnings ratio of 142.17, a P/E/G ratio of 1.52 and a beta of 0.46.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $2.24. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.95 EPS. equities research analysts forecast that Equinix will post 16.11 EPS for the current fiscal year.

In related news, CFO Keith D. Taylor sold 4,228 shares of Equinix stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $443.15, for a total transaction of $1,873,638.20. Following the sale, the chief financial officer now directly owns 29,466 shares in the company, valued at approximately $13,057,857.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Camp Peter Van sold 1,593 shares of Equinix stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $441.55, for a total transaction of $703,389.15. Following the sale, the director now owns 5,871 shares in the company, valued at $2,592,340.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,110 shares of company stock worth $10,382,238. 0.58% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue lifted its position in shares of Equinix by 30.0% in the 4th quarter. State of Alaska Department of Revenue now owns 56,029 shares of the financial services provider’s stock worth $25,390,000 after purchasing an additional 12,917 shares during the period. Fox Run Management L.L.C. lifted its position in shares of Equinix by 77.2% in the 4th quarter. Fox Run Management L.L.C. now owns 1,595 shares of the financial services provider’s stock worth $723,000 after purchasing an additional 695 shares during the period. Westpac Banking Corp lifted its position in shares of Equinix by 37.4% in the 4th quarter. Westpac Banking Corp now owns 34,489 shares of the financial services provider’s stock worth $15,631,000 after purchasing an additional 9,390 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Equinix by 5.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 265,082 shares of the financial services provider’s stock worth $120,141,000 after purchasing an additional 13,241 shares during the period. Finally, Spirit of America Management Corp NY lifted its position in shares of Equinix by 22.4% in the 4th quarter. Spirit of America Management Corp NY now owns 4,100 shares of the financial services provider’s stock worth $1,858,000 after purchasing an additional 750 shares during the period. Hedge funds and other institutional investors own 94.07% of the company’s stock.

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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.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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