Equinix, Inc. (NASDAQ:EQIX) had its price objective upped by analysts at Royal Bank Of Canada from $470.00 to $505.00 in a research report issued to clients and investors on Monday. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 13.34% from the company’s current price.
EQIX has been the subject of a number of other reports. Mitsubishi UFJ Financial Group initiated coverage on Equinix in a research note on Tuesday, April 25th. They issued an “overweight” rating and a $433.00 price objective for the company. Zacks Investment Research cut Equinix from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. Cowen and Company lifted their price objective on Equinix from $453.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. Jefferies Group LLC lifted their price objective on Equinix from $378.00 to $410.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $465.00 price objective (up from $435.00) on shares of Equinix in a research note on Tuesday, April 25th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Equinix has a consensus rating of “Buy” and an average target price of $464.78.
Shares of Equinix (EQIX) opened at 445.58 on Monday. Equinix has a one year low of $314.55 and a one year high of $455.37. The firm has a market capitalization of $34.72 billion, a price-to-earnings ratio of 163.64 and a beta of 0.59.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.41 by $2.83. Equinix had a net margin of 5.18% and a return on equity of 5.51%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. Equities analysts anticipate that Equinix will post $4.16 EPS for the current year.
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In other Equinix news, Director Christopher B. Paisley sold 500 shares of Equinix stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $439.39, for a total transaction of $219,695.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 1,000 shares of Equinix stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $436.12, for a total value of $436,120.00. Following the sale, the chief financial officer now directly owns 32,996 shares of the company’s stock, valued at $14,390,215.52. The disclosure for this sale can be found here. Insiders have sold a total of 17,699 shares of company stock valued at $7,722,276 over the last ninety days. 0.58% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in EQIX. Point72 Asia Hong Kong Ltd increased its stake in shares of Equinix by 47.4% in the first quarter. Point72 Asia Hong Kong Ltd now owns 252 shares of the financial services provider’s stock worth $101,000 after buying an additional 81 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Equinix by 1,033.3% in the first quarter. Proficio Capital Partners LLC now owns 238 shares of the financial services provider’s stock worth $105,000 after buying an additional 217 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Equinix during the first quarter worth about $112,000. Guardian Life Insurance Co. of America increased its stake in shares of Equinix by 9.9% in the first quarter. Guardian Life Insurance Co. of America now owns 300 shares of the financial services provider’s stock worth $120,000 after buying an additional 27 shares during the period. Finally, Smithfield Trust Co. increased its stake in shares of Equinix by 19.1% in the second quarter. Smithfield Trust Co. now owns 337 shares of the financial services provider’s stock worth $145,000 after buying an additional 54 shares during the period. 95.31% of the stock is owned by institutional investors.
Equinix Company Profile
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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