A number of other brokerages have also commented on EQIX. Royal Bank of Canada reduced their target price on shares of Toromont Industries from C$66.00 to C$65.00 and set a sector perform rating on the stock in a research report on Monday, May 6th. Guggenheim raised their target price on shares of Equinix from $505.00 to $540.00 and gave the stock a sell rating in a research report on Tuesday, July 2nd. Mitsubishi UFJ Financial Group raised their target price on shares of Equinix from $460.00 to $484.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Raymond James reaffirmed a buy rating and set a $21.00 target price on shares of Colfax in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus raised their target price on shares of Equinix from $505.00 to $542.00 and gave the stock a buy rating in a research report on Monday, July 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $509.67.
Equinix stock opened at $506.61 on Thursday. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56. Equinix has a 1-year low of $335.29 and a 1-year high of $528.98. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 1.76 and a beta of 0.73. The stock has a 50-day moving average price of $506.73.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.16 by ($3.72). Equinix had a return on equity of 5.66% and a net margin of 8.06%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the company earned $5.21 earnings per share. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts predict that Equinix will post 20.73 EPS for the current year.
In related news, insider Michael Earl Campbell sold 1,000 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $491.62, for a total transaction of $491,620.00. Following the transaction, the insider now directly owns 2,578 shares of the company’s stock, valued at $1,267,396.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 200 shares of Equinix stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $487.88, for a total transaction of $97,576.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,450 shares of company stock worth $1,202,784. 0.49% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Hanseatic Management Services Inc. acquired a new stake in Equinix in the second quarter valued at approximately $601,000. Focused Wealth Management Inc acquired a new stake in shares of Equinix during the second quarter worth $39,000. Commonwealth Equity Services LLC lifted its stake in shares of Equinix by 30.2% during the second quarter. Commonwealth Equity Services LLC now owns 2,265 shares of the financial services provider’s stock worth $1,142,000 after buying an additional 525 shares during the period. Meridian Wealth Management LLC lifted its stake in shares of Equinix by 554.8% during the second quarter. Meridian Wealth Management LLC now owns 406 shares of the financial services provider’s stock worth $205,000 after buying an additional 344 shares during the period. Finally, Winslow Evans & Crocker Inc. lifted its stake in shares of Equinix by 78.8% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,366 shares of the financial services provider’s stock worth $690,000 after buying an additional 602 shares during the period. 99.65% of the stock is currently owned by institutional investors.
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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