Equinix (NASDAQ:EQIX) Rating Increased to Hold at BidaskClub

Equinix (NASDAQ:EQIX) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday, October 19th.

A number of other brokerages have also issued reports on EQIX. Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a research report on Tuesday, July 3rd. Mitsubishi UFJ Financial Group boosted their target price on Equinix to $483.00 and gave the company an “overweight” rating in a research report on Friday, August 17th. ValuEngine lowered Equinix from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. Stifel Nicolaus began coverage on Equinix in a research report on Tuesday, July 17th. They issued a “buy” rating and a $500.00 target price on the stock. Finally, BMO Capital Markets cut their price objective on Equinix from $526.00 to $521.00 and set a “buy” rating on the stock in a research report on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company. Equinix has an average rating of “Buy” and a consensus price target of $501.28.

Shares of Equinix stock traded down $4.54 on Friday, hitting $384.94. 741,214 shares of the company were exchanged, compared to its average volume of 576,042. Equinix has a 1-year low of $370.79 and a 1-year high of $485.92. The stock has a market cap of $32.16 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.34 and a beta of 0.74. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.24 and a quick ratio of 1.29.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.55 EPS for the quarter, missing analysts’ consensus estimates of $4.47 by ($2.92). Equinix had a net margin of 6.46% and a return on equity of 7.70%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted $3.63 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that Equinix will post 18.45 EPS for the current fiscal year.

In other news, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $431.65, for a total transaction of $863,300.00. Following the completion of the sale, the chief financial officer now owns 21,141 shares in the company, valued at $9,125,512.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Earl Campbell sold 250 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $433.24, for a total transaction of $108,310.00. Following the sale, the insider now owns 1,427 shares of the company’s stock, valued at approximately $618,233.48. The disclosure for this sale can be found here. Insiders sold 3,566 shares of company stock valued at $1,528,778 in the last 90 days. 0.51% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Reliance Trust Co. of Delaware lifted its position in Equinix by 8.1% in the second quarter. Reliance Trust Co. of Delaware now owns 1,662 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 124 shares during the period. Fieldpoint Private Securities LLC lifted its position in Equinix by 27.0% in the second quarter. Fieldpoint Private Securities LLC now owns 635 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 135 shares during the period. US Bancorp DE lifted its position in Equinix by 1.9% in the third quarter. US Bancorp DE now owns 7,886 shares of the financial services provider’s stock valued at $3,414,000 after purchasing an additional 144 shares during the period. Amica Retiree Medical Trust lifted its position in Equinix by 10.8% in the second quarter. Amica Retiree Medical Trust now owns 1,497 shares of the financial services provider’s stock valued at $644,000 after purchasing an additional 146 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in Equinix by 11.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,512 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 99.77% 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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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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