Equinix (NASDAQ:EQIX) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of Equinix (NASDAQ:EQIX) from a hold rating to a sell rating in a research note published on Thursday, ValuEngine reports.

Several other equities analysts have also issued reports on EQIX. Stifel Nicolaus reissued a buy rating and set a $620.00 price objective on shares of Equinix in a report on Thursday, November 14th. Nomura lifted their price objective on shares of Equinix from $575.00 to $625.00 and gave the company a buy rating in a report on Friday, October 18th. Credit Suisse Group reissued a buy rating and set a $581.00 price objective on shares of Equinix in a report on Wednesday, December 4th. Morgan Stanley lifted their price objective on shares of Equinix from $510.00 to $520.00 and gave the company an equal weight rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Co reissued an outperform rating and set a $620.00 price objective (up from $545.00) on shares of Equinix in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $574.56.

EQIX stock traded down $4.05 during trading on Thursday, hitting $591.96. 328,988 shares of the company’s stock traded hands, compared to its average volume of 404,193. The firm has a market capitalization of $47.85 billion, a P/E ratio of 100.33, a PEG ratio of 1.96 and a beta of 0.66. The business has a fifty day simple moving average of $577.70 and a two-hundred day simple moving average of $555.81. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33. Equinix has a 1 year low of $363.90 and a 1 year high of $609.97.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.96 by ($3.55). The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Equinix had a net margin of 9.03% and a return on equity of 5.94%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.55 earnings per share. On average, equities research analysts predict that Equinix will post 20.63 EPS for the current fiscal year.

In other news, insider Sara Baack sold 250 shares of Equinix stock in a transaction on Friday, November 1st. The shares were sold at an average price of $565.33, for a total transaction of $141,332.50. Following the completion of the sale, the insider now directly owns 8,172 shares in the company, valued at $4,619,876.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith D. Taylor sold 3,383 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $592.28, for a total transaction of $2,003,683.24. Following the sale, the chief financial officer now owns 28,430 shares of the company’s stock, valued at $16,838,520.40. The disclosure for this sale can be found here. Insiders sold 17,998 shares of company stock worth $10,621,400 over the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Several large investors have recently bought and sold shares of EQIX. Tarbox Family Office Inc. lifted its stake in shares of Equinix by 181.3% during the third quarter. Tarbox Family Office Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 29 shares during the period. Savior LLC acquired a new stake in shares of Equinix during the fourth quarter worth $32,000. North Star Investment Management Corp. acquired a new stake in shares of Equinix during the third quarter worth $40,000. Baystate Wealth Management LLC lifted its stake in shares of Equinix by 91.9% during the third quarter. Baystate Wealth Management LLC now owns 71 shares of the financial services provider’s stock worth $41,000 after buying an additional 34 shares during the period. Finally, Synovus Financial Corp lifted its stake in shares of Equinix by 108.1% during the third quarter. Synovus Financial Corp now owns 77 shares of the financial services provider’s stock worth $44,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 99.02% 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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