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.

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

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.

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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