Equinix Inc (EQIX) Receives $500.00 Average Price Target from Analysts

Share on StockTwits

Equinix Inc (NASDAQ:EQIX) has received an average recommendation of “Buy” from the twenty-one research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $500.00.

EQIX has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $454.00 price objective (down from $460.00) on shares of Equinix in a report on Tuesday, October 23rd. BidaskClub cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Berenberg Bank assumed coverage on shares of Equinix in a research note on Tuesday, January 8th. They issued a “buy” rating and a $477.00 target price for the company. Credit Suisse Group set a $500.00 target price on shares of Equinix and gave the company a “buy” rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research cut shares of Equinix from a “hold” rating to a “sell” rating in a research note on Monday, January 7th.

In other Equinix news, insider Michael Earl Campbell sold 1,500 shares of Equinix stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $395.00, for a total transaction of $592,500.00. Following the completion of the sale, the insider now owns 1,388 shares of the company’s stock, valued at approximately $548,260. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yau Tat Lee sold 2,792 shares of Equinix stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $382.86, for a total transaction of $1,068,945.12. Following the sale, the insider now directly owns 2,182 shares of the company’s stock, valued at approximately $835,400.52. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc grew its holdings in shares of Equinix by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 10,175,655 shares of the financial services provider’s stock valued at $4,404,940,000 after buying an additional 27,284 shares during the period. BlackRock Inc. grew its holdings in shares of Equinix by 2.5% in the 3rd quarter. BlackRock Inc. now owns 5,925,203 shares of the financial services provider’s stock valued at $2,564,961,000 after buying an additional 144,960 shares during the period. Capital World Investors grew its holdings in shares of Equinix by 4.8% in the 3rd quarter. Capital World Investors now owns 3,238,956 shares of the financial services provider’s stock valued at $1,402,112,000 after buying an additional 148,000 shares during the period. Edgewood Management LLC grew its holdings in shares of Equinix by 1.6% in the 3rd quarter. Edgewood Management LLC now owns 2,287,779 shares of the financial services provider’s stock valued at $990,356,000 after buying an additional 35,868 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Equinix by 10.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,225,145 shares of the financial services provider’s stock valued at $530,354,000 after buying an additional 112,196 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

NASDAQ EQIX opened at $371.43 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $28.73 billion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.23 and a beta of 0.78. Equinix has a 1-year low of $335.29 and a 1-year high of $458.64.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.47 by ($2.92). The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. Equinix had a net margin of 6.46% and a return on equity of 7.70%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.63 earnings per share. On average, sell-side analysts predict that Equinix will post 18.47 EPS for the current year.

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.

Further Reading: Moving Average – How it Helps Investors in Stock Selection

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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.

Leave a Reply