Equinix (EQIX) Rating Lowered to Sell at BidaskClub
Equinix (NASDAQ:EQIX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.
A number of other analysts also recently issued reports on the company. Cowen reissued a “buy” rating and set a $482.00 price objective on shares of Equinix in a research report on Friday, November 10th. Barclays raised Equinix from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $475.00 to $505.00 in a research report on Wednesday, October 18th. Credit Suisse Group set a $515.00 target price on Equinix and gave the company a “buy” rating in a research report on Tuesday, December 12th. UBS Group assumed coverage on Equinix in a research report on Wednesday, October 18th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. raised Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 target price for the company in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $502.95.
Shares of Equinix (EQIX) traded down $7.61 during trading hours on Thursday, hitting $435.39. The company had a trading volume of 606,450 shares, compared to its average volume of 454,452. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.51. The firm has a market cap of $34,660.00, a P/E ratio of 141.36, a price-to-earnings-growth ratio of 1.56 and a beta of 0.46. Equinix has a 1 year low of $361.90 and a 1 year high of $495.35.
Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $2.24. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company earned $3.95 EPS. sell-side analysts expect that Equinix will post 16.05 EPS for the current year.
In other news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $455.42, for a total value of $683,130.00. Following the completion of the transaction, the chief financial officer now owns 29,596 shares in the company, valued at approximately $13,478,610.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christopher B. Paisley sold 593 shares of Equinix stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $484.99, for a total value of $287,599.07. The disclosure for this sale can be found here. Insiders sold a total of 6,193 shares of company stock valued at $2,892,191 in the last quarter. Company insiders own 0.58% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in EQIX. Capital World Investors boosted its stake in shares of Equinix by 247.0% in the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after buying an additional 761,220 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Equinix by 1,517.9% in the 2nd quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock valued at $214,150,000 after buying an additional 468,162 shares during the period. Egerton Capital UK LLP lifted its stake in Equinix by 152.0% during the third quarter. Egerton Capital UK LLP now owns 487,173 shares of the financial services provider’s stock worth $217,425,000 after purchasing an additional 293,842 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in Equinix by 52.5% during the third quarter. Alyeska Investment Group L.P. now owns 432,015 shares of the financial services provider’s stock worth $192,808,000 after purchasing an additional 148,638 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Equinix by 444.4% during the third quarter. BNP Paribas Arbitrage SA now owns 181,359 shares of the financial services provider’s stock worth $80,941,000 after purchasing an additional 148,047 shares during the last quarter. Institutional investors and hedge funds own 94.16% of the company’s stock.
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Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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