Equinix (NASDAQ:EQIX) PT Raised to $550.00 at Stifel Nicolaus

Equinix (NASDAQ:EQIX) had its price objective boosted by analysts at Stifel Nicolaus from $542.00 to $550.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 4.94% from the company’s previous close.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded Equinix from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. BMO Capital Markets reiterated a “buy” rating and set a $520.00 price objective on shares of Equinix in a report on Tuesday, July 2nd. UBS Group increased their price objective on Equinix from $510.00 to $560.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada increased their price objective on Equinix from $500.00 to $520.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, Oppenheimer increased their price objective on Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Equinix has an average rating of “Buy” and an average target price of $527.21.

Equinix stock traded up $1.34 during mid-day trading on Thursday, reaching $524.09. 580,373 shares of the company were exchanged, compared to its average volume of 316,867. The firm’s fifty day moving average is $509.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $40.60 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.74 and a beta of 0.73. Equinix has a 12-month low of $335.29 and a 12-month high of $533.08.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.14 by ($3.45). The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Equinix had a return on equity of 6.53% and a net margin of 9.29%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.63 EPS. As a group, equities research analysts predict that Equinix will post 20.73 EPS for the current fiscal year.

In related news, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $487.88, for a total value of $97,576.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Earl Campbell sold 1,250 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $490.87, for a total value of $613,587.50. Following the completion of the transaction, the insider now owns 2,578 shares of the company’s stock, valued at approximately $1,265,462.86. The disclosure for this sale can be found here. Insiders sold a total of 2,450 shares of company stock valued at $1,202,784 in the last 90 days. 0.49% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Carroll Financial Associates Inc. raised its stake in Equinix by 63.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 21 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Equinix in the 1st quarter worth $28,000. Washington Trust Bank purchased a new position in Equinix in the 1st quarter worth $29,000. Spectrum Management Group Inc. purchased a new position in Equinix in the 1st quarter worth $29,000. Finally, Berman Capital Advisors LLC raised its stake in Equinix by 44.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 22 shares during the last quarter. Institutional investors own 99.65% 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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