Shares of Equinix Inc (NASDAQ:EQIX) have received an average rating of “Buy” from the twenty brokerages that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $579.88.

EQIX has been the topic of several recent research reports. BidaskClub downgraded shares of Equinix from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th. Credit Suisse Group reiterated a “buy” rating and issued a $581.00 price objective on shares of Equinix in a research report on Wednesday, December 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $620.00 price objective on shares of Equinix in a research report on Thursday, November 14th. Raymond James lifted their price objective on shares of Equinix from $560.00 to $625.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 31st. Finally, FBN Securities lifted their price objective on shares of Equinix from $550.00 to $625.00 and gave the company an “outperform” rating in a research report on Monday, November 4th.

In other Equinix news, insider Sara Baack sold 250 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $565.33, for a total transaction of $141,332.50. Following the sale, the insider now directly owns 8,172 shares in the company, valued at approximately $4,619,876.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles J. Meyers sold 5,562 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $592.53, for a total transaction of $3,295,651.86. Following the sale, the chief executive officer now owns 8,567 shares in the company, valued at $5,076,204.51. The disclosure for this sale can be found here. Insiders have sold a total of 17,998 shares of company stock worth $10,621,400 over the last 90 days. 0.49% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Equinix by 4.3% during the 3rd quarter. State Street Corp now owns 3,473,776 shares of the financial services provider’s stock worth $2,003,674,000 after buying an additional 144,231 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Equinix by 195.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,038,360 shares of the financial services provider’s stock worth $523,634,000 after buying an additional 686,771 shares in the last quarter. Pictet Asset Management Ltd. raised its position in shares of Equinix by 16.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 759,710 shares of the financial services provider’s stock worth $438,201,000 after buying an additional 107,692 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Equinix by 14.7% during the 3rd quarter. California Public Employees Retirement System now owns 431,034 shares of the financial services provider’s stock worth $248,620,000 after buying an additional 55,142 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Equinix by 43.6% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 428,318 shares of the financial services provider’s stock worth $247,054,000 after buying an additional 130,121 shares in the last quarter. Institutional investors own 99.02% of the company’s stock.

Shares of NASDAQ EQIX traded down $5.06 during midday trading on Tuesday, hitting $590.95. The company’s stock had a trading volume of 17,208 shares, compared to its average volume of 335,566. Equinix has a 1-year low of $357.35 and a 1-year high of $609.97. The firm’s fifty day moving average price is $577.06 and its 200-day moving average price is $555.44. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $47.85 billion, a P/E ratio of 100.15, a P/E/G ratio of 1.96 and a beta of 0.66.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.96 by ($3.55). Equinix had a net margin of 9.03% and a return on equity of 5.94%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts predict that Equinix will post 20.63 earnings per share for the current fiscal year.

About Equinix

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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