Credit Suisse Group Reiterates “$500.00” Price Target for Equinix (EQIX)

Equinix (NASDAQ:EQIX) received a $500.00 price objective from equities researchers at Credit Suisse Group in a research note issued on Friday, November 2nd. The brokerage currently has a “buy” rating on the financial services provider’s stock. Credit Suisse Group’s price target indicates a potential upside of 29.89% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus initiated coverage on Equinix in a research report on Tuesday, July 17th. They issued a “buy” rating and a $500.00 target price for the company. Citigroup increased their price target on Equinix from $494.00 to $506.00 and gave the company a “buy” rating in a report on Thursday, August 9th. BMO Capital Markets reduced their price target on Equinix from $526.00 to $521.00 and set a “buy” rating for the company in a report on Thursday, August 9th. BidaskClub raised Equinix from a “sell” rating to a “hold” rating in a report on Saturday, September 15th. Finally, ValuEngine raised Equinix from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $501.28.

NASDAQ:EQIX traded down $4.54 on Friday, hitting $384.94. 741,214 shares of the stock were exchanged, compared to its average volume of 576,042. The firm has a market capitalization of $32.16 billion, a PE 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 has a fifty-two week low of $370.79 and a fifty-two week high of $485.92.

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

In related news, insider Michael Earl Campbell sold 1,316 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $423.38, for a total value of $557,168.08. Following the sale, the insider now directly owns 3,954 shares in the company, valued at approximately $1,674,044.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $431.65, for a total value of $863,300.00. Following the transaction, the chief financial officer now directly owns 21,141 shares of the company’s stock, valued at $9,125,512.65. The disclosure for this sale can be found here. Insiders have sold a total of 3,566 shares of company stock worth $1,528,778 over the last quarter. Insiders own 0.51% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of EQIX. Bridgeworth LLC bought a new stake in shares of Equinix during the 2nd quarter worth $100,000. We Are One Seven LLC bought a new stake in shares of Equinix during the 3rd quarter worth $204,000. First Allied Advisory Services Inc. bought a new stake in shares of Equinix during the 2nd quarter worth $206,000. Park Avenue Securities LLC bought a new stake in shares of Equinix during the 2nd quarter worth $214,000. Finally, Greenleaf Trust bought a new stake in shares of Equinix during the 3rd quarter worth $226,000. 99.77% of the stock is owned by hedge funds and other institutional investors.

About Equinix

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.

Featured Story: Asset Allocation Models, Which is Right For You?

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