A number of other analysts have also weighed in on EQIX. Zacks Investment Research lowered Equinix from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. Berenberg Bank initiated coverage on Equinix in a research note on Tuesday, January 8th. They set a “buy” rating and a $477.00 price objective for the company. Credit Suisse Group increased their price objective on Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research note on Thursday, February 14th. Citigroup increased their price objective on Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Co increased their price objective on Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $493.08.
NASDAQ:EQIX opened at $450.21 on Monday. The company has a market cap of $36.01 billion, a PE ratio of 21.76, a P/E/G ratio of 1.58 and a beta of 0.91. Equinix has a fifty-two week low of $335.29 and a fifty-two week high of $467.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.51.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $4.46 by ($3.10). The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Equinix had a net margin of 7.20% and a return on equity of 6.88%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.82 EPS. Sell-side analysts anticipate that Equinix will post 20.89 earnings per share for the current year.
In related news, Director Camp Peter Van sold 3,418 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $429.76, for a total value of $1,468,919.68. Following the completion of the sale, the director now owns 8,024 shares of the company’s stock, valued at $3,448,394.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles J. Meyers sold 282 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $462.31, for a total value of $130,371.42. Following the completion of the sale, the chief executive officer now directly owns 5,882 shares of the company’s stock, valued at approximately $2,719,307.42. The disclosure for this sale can be found here. Insiders sold 18,143 shares of company stock valued at $7,776,844 in the last ninety days. 0.51% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Washington Trust Bank purchased a new position in Equinix during the first quarter valued at $29,000. Spectrum Management Group Inc. purchased a new position in Equinix during the first quarter valued at $29,000. Farmers & Merchants Investments Inc. lifted its position in Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock valued at $30,000 after buying an additional 54 shares during the period. Pearl River Capital LLC purchased a new position in Equinix during the fourth quarter valued at $35,000. Finally, Rehmann Capital Advisory Group lifted its position in Equinix by 158.8% during the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock valued at $38,000 after buying an additional 54 shares during the period. 98.92% of the stock is owned by institutional investors and hedge funds.
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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