Equinix (NASDAQ:EQIX – Get Rating) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a $790.00 price target on the financial services provider’s stock, up from their prior price target of $750.00. Jefferies Financial Group’s target price would indicate a potential upside of 17.38% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of Equinix from a “hold” rating to a “buy” rating in a report on Tuesday. TheStreet lowered shares of Equinix from a “b-” rating to a “c+” rating in a report on Monday, June 13th. BMO Capital Markets dropped their price objective on shares of Equinix from $825.00 to $770.00 in a research note on Thursday, May 26th. Deutsche Bank Aktiengesellschaft raised their price target on Equinix from $780.00 to $785.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Finally, Citigroup began coverage on Equinix in a research note on Sunday, March 20th. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $846.60.
Shares of Equinix stock opened at $673.03 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.91 and a current ratio of 1.91. Equinix has a 1 year low of $606.12 and a 1 year high of $885.26. The firm’s 50-day simple moving average is $672.42 and its 200-day simple moving average is $716.77. The firm has a market cap of $61.26 billion, a PE ratio of 124.18, a price-to-earnings-growth ratio of 3.25 and a beta of 0.46.
Equinix (NASDAQ:EQIX – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.46 by ($4.84). Equinix had a net margin of 7.25% and a return on equity of 4.57%. During the same period last year, the firm posted $6.98 EPS. On average, equities analysts predict that Equinix will post 25.86 earnings per share for the current year.
In other news, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $658.39, for a total transaction of $658,390.00. Following the completion of the sale, the chief financial officer now directly owns 21,120 shares of the company’s stock, valued at approximately $13,905,196.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Lin sold 76 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $676.00, for a total value of $51,376.00. Following the sale, the executive vice president now directly owns 5,084 shares in the company, valued at $3,436,784. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,126 shares of company stock worth $742,362. 0.32% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its position in shares of Equinix by 33.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 1,256 shares of the financial services provider’s stock worth $1,062,000 after acquiring an additional 317 shares in the last quarter. Byrne Asset Management LLC purchased a new position in Equinix during the 4th quarter worth approximately $102,000. Peterson Wealth Services acquired a new stake in Equinix during the 1st quarter valued at $211,000. Oak Harbor Wealth Partners LLC purchased a new stake in shares of Equinix in the fourth quarter valued at $441,000. Finally, Carroll Investors Inc acquired a new stake in shares of Equinix in the fourth quarter worth $129,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.
Equinix Company Profile (Get Rating)
Equinix (Nasdaq: EQIX) is the world’s digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today’s businesses to access all the right places, partners and possibilities they need to accelerate advantage.
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Read More: Equinix (NASDAQ:EQIX) Raised to Buy at Jefferies Financial Group