Equinix (NASDAQ:EQIX) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Monday, BidAskClub reports.

Several other equities analysts have also recently issued reports on the company. Credit Suisse Group boosted their target price on Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research note on Thursday, February 14th. Berenberg Bank started coverage on Equinix in a research note on Tuesday, January 8th. They set a “buy” rating and a $477.00 target price on the stock. Citigroup boosted their target price on Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research cut Equinix from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Finally, Nomura boosted their target price on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, March 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $491.08.

EQIX opened at $446.44 on Monday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.00 and a current ratio of 1.00. Equinix has a 52-week low of $335.29 and a 52-week high of $467.99. The company has a market cap of $36.10 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.58 and a beta of 0.91.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 13th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.46 by ($3.10). Equinix had a net margin of 7.20% and a return on equity of 6.88%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm posted $0.82 earnings per share. Equinix’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities analysts anticipate that Equinix will post 20.89 EPS for the current year.

In related news, CEO Charles J. Meyers sold 3,383 shares of the company’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $425.92, for a total value of $1,440,887.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Camp Peter Van sold 3,418 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $429.76, for a total value of $1,468,919.68. Following the completion of the sale, the director now directly owns 8,024 shares in the company, valued at $3,448,394.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,893 shares of company stock worth $7,665,409. 0.51% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the stock. Washington Trust Bank purchased a new stake in Equinix in the first quarter worth $29,000. Spectrum Management Group Inc. purchased a new stake in Equinix in the first quarter worth $29,000. Farmers & Merchants Investments Inc. boosted its holdings in Equinix by 174.2% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 54 shares in the last quarter. Pearl River Capital LLC bought a new stake in Equinix in the fourth quarter worth $35,000. Finally, Rehmann Capital Advisory Group boosted its holdings in Equinix by 158.8% in the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 54 shares in the last quarter. 98.92% of the stock is currently owned by institutional investors.

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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