Equinix (EQIX) Price Target Increased to $508.00 by Analysts at Citigroup
Equinix (NASDAQ:EQIX) had its price target raised by Citigroup from $482.00 to $508.00 in a research note released on Tuesday, BenzingaRatingsTable reports. They currently have a buy rating on the financial services provider’s stock.
A number of other brokerages also recently weighed in on EQIX. BidaskClub raised shares of Equinix from a buy rating to a strong-buy rating in a report on Friday, April 5th. Zacks Investment Research downgraded shares of Equinix from a buy rating to a hold rating in a report on Tuesday, April 16th. Nomura boosted their price target on shares of Equinix from $480.00 to $500.00 and gave the stock a buy rating in a report on Friday, March 29th. Wells Fargo & Co boosted their price target on shares of Equinix from $475.00 to $500.00 and gave the stock an outperform rating in a report on Wednesday, March 27th. Finally, Credit Suisse Group boosted their price target on shares of Equinix from $467.00 to $474.00 and gave the stock an outperform rating in a report on Thursday, February 14th. 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 presently has a consensus rating of Buy and a consensus target price of $493.08.
Shares of NASDAQ:EQIX opened at $450.21 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $36.01 billion, a P/E ratio of 21.76, a P/E/G ratio of 1.58 and a beta of 0.91. Equinix has a fifty-two week low of $335.29 and a fifty-two week high of $467.99.
In other Equinix news, CEO Charles J. Meyers sold 3,383 shares of the company’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $425.92, for a total transaction of $1,440,887.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Camp Peter Van sold 3,418 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $429.76, for a total transaction of $1,468,919.68. Following 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 have sold 18,143 shares of company stock worth $7,776,844. Insiders own 0.51% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Washington Trust Bank purchased a new stake in Equinix during the first quarter valued at about $29,000. Spectrum Management Group Inc. bought a new stake in shares of Equinix during the first quarter valued at about $29,000. Farmers & Merchants Investments Inc. increased its position in shares of Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock valued at $30,000 after buying an additional 54 shares during the period. Pearl River Capital LLC bought a new stake in shares of Equinix during the fourth quarter valued at about $35,000. Finally, Rehmann Capital Advisory Group increased its position in shares of Equinix by 158.8% during the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock valued at $38,000 after buying an additional 54 shares during the period. 98.92% of the stock is currently owned by institutional investors and hedge funds.
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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