Oppenheimer Boosts Equinix (NASDAQ:EQIX) Price Target to $550.00

Equinix (NASDAQ:EQIX) had its price objective boosted by Oppenheimer from $500.00 to $550.00 in a research report report published on Thursday, The Fly reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on the stock. Wells Fargo & Co lifted their target price on shares of Equinix from $500.00 to $545.00 and gave the stock an outperform rating in a research report on Thursday. Deutsche Bank lifted their target price on shares of Equinix from $480.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, May 9th. BMO Capital Markets reissued a buy rating and set a $520.00 price objective on shares of Equinix in a research report on Tuesday, July 2nd. Nomura boosted their price objective on shares of Equinix from $505.00 to $575.00 and gave the company a buy rating in a research report on Thursday. Finally, ValuEngine raised shares of Equinix from a hold rating to a buy rating in a research report on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $527.21.

NASDAQ:EQIX traded up $1.34 during trading hours on Thursday, reaching $524.09. The company had a trading volume of 580,373 shares, compared to its average volume of 316,867. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.56 and a current ratio of 1.56. Equinix has a 52 week low of $335.29 and a 52 week high of $533.08. The stock has a market cap of $40.60 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.74 and a beta of 0.73. The company’s 50 day simple moving average is $509.10.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a dividend of $2.46 per share. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Tuesday, August 20th. Equinix’s payout ratio is 47.56%.

In related news, Director Christopher B. Paisley sold 200 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $487.88, for a total value of $97,576.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Earl Campbell sold 1,000 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $491.62, for a total transaction of $491,620.00. Following the completion of the transaction, the insider now directly owns 2,578 shares of the company’s stock, valued at approximately $1,267,396.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,450 shares of company stock valued at $1,202,784. Insiders own 0.49% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Comerica Securities Inc. lifted its stake in shares of Equinix by 51.1% during the fourth quarter. Comerica Securities Inc. now owns 1,958 shares of the financial services provider’s stock valued at $690,000 after acquiring an additional 662 shares during the period. Geode Capital Management LLC lifted its stake in Equinix by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 973,381 shares of the financial services provider’s stock valued at $342,531,000 after buying an additional 65,128 shares during the period. Two Sigma Advisers LP acquired a new position in Equinix in the fourth quarter valued at about $564,000. Actinver Wealth Management Inc. acquired a new position in Equinix in the fourth quarter valued at about $349,000. Finally, Altfest L J & Co. Inc. lifted its stake in Equinix by 160.0% in the first quarter. Altfest L J & Co. Inc. now owns 4,524 shares of the financial services provider’s stock valued at $625,000 after buying an additional 2,784 shares during the period. 99.65% of the stock is owned by institutional investors.

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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