Credit Suisse Group Analysts Give Equinix (EQIX) a $515.00 Price Target
Equinix (NASDAQ:EQIX) has been given a $515.00 target price by equities researchers at Credit Suisse Group in a report released on Tuesday. The firm currently has a “buy” rating on the financial services provider’s stock. Credit Suisse Group’s target price suggests a potential upside of 14.55% from the company’s previous close.
The analysts wrote, “We will be presenting at the New England & Boston Data Center Conference through CAPRATE Media on December 12, 2017, at Harvard University in Cambridge, MA, as the keynote speaker on the state of the data center industry. Our presentation, 2018 Data Center Drivers – Enablers Boosting Enterprise Cloud, highlights three key points for robust enterprise cloud adoption and data market strength in 2018.””
Other analysts have also issued reports about the stock. Berenberg Bank began coverage on shares of Equinix in a research note on Tuesday, September 26th. They set a “buy” rating and a $550.00 target price on the stock. J P Morgan Chase & Co upgraded shares of Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 target price on the stock in a research note on Thursday, November 2nd. Deutsche Bank began coverage on shares of Equinix in a research note on Tuesday, October 24th. They set a “buy” rating and a $550.00 target price on the stock. Cowen restated a “buy” rating and set a $482.00 target price on shares of Equinix in a research note on Friday, November 10th. Finally, Oppenheimer upped their target price on shares of Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $500.74.
Shares of Equinix (NASDAQ:EQIX) traded down $2.81 during trading hours on Tuesday, reaching $449.58. 496,600 shares of the company’s stock were exchanged, compared to its average volume of 492,134. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market capitalization of $35,392.14, a price-to-earnings ratio of 25.44, a PEG ratio of 1.82 and a beta of 0.46. Equinix has a one year low of $343.55 and a one year high of $495.35.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $2.24. Equinix had a net margin of 5.58% and a return on equity of 5.59%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm earned $3.95 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. equities analysts forecast that Equinix will post 16.05 earnings per share for the current fiscal year.
In related news, CFO Keith D. Taylor sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $476.81, for a total value of $953,620.00. Following the completion of the transaction, the chief financial officer now directly owns 27,996 shares of the company’s stock, valued at $13,348,772.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $438.46, for a total value of $657,690.00. Following the completion of the transaction, the chief financial officer now directly owns 31,393 shares of the company’s stock, valued at $13,764,574.78. The disclosure for this sale can be found here. Insiders sold 5,993 shares of company stock valued at $2,770,635 over the last ninety days. 0.58% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its holdings in shares of Equinix by 11.1% in the third quarter. Public Employees Retirement System of Ohio now owns 59,458 shares of the financial services provider’s stock valued at $26,536,000 after acquiring an additional 5,947 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Equinix in the third quarter valued at approximately $1,172,000. IFM Investors Pty Ltd acquired a new stake in shares of Equinix in the third quarter valued at approximately $975,000. Alkeon Capital Management LLC boosted its holdings in shares of Equinix by 11.0% in the third quarter. Alkeon Capital Management LLC now owns 440,342 shares of the financial services provider’s stock valued at $196,524,000 after acquiring an additional 43,500 shares during the period. Finally, Piedmont Investment Advisors LLC boosted its holdings in shares of Equinix by 0.9% in the third quarter. Piedmont Investment Advisors LLC now owns 16,754 shares of the financial services provider’s stock valued at $7,477,000 after acquiring an additional 154 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.
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Equinix Company Profile
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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