Equinix, Inc. (EQIX) Given Buy Rating at Berenberg Bank
Equinix, Inc. (NASDAQ:EQIX)‘s stock had its “buy” rating reiterated by equities research analysts at Berenberg Bank in a report issued on Friday. They currently have a $550.00 target price on the financial services provider’s stock. Berenberg Bank’s target price suggests a potential upside of 12.65% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. Citigroup Inc. increased their price target on Equinix from $518.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday. J P Morgan Chase & Co raised Equinix from a “neutral” rating to an “overweight” rating and set a $550.00 price target on the stock in a research report on Thursday. Oppenheimer Holdings, Inc. increased their price target on Equinix from $472.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley increased their price target on Equinix from $424.00 to $435.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Nomura increased their price target on Equinix from $490.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Equinix currently has a consensus rating of “Buy” and an average target price of $492.47.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings results 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. Equinix had a return on equity of 5.77% and a net margin of 5.58%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company earned $3.95 EPS. The business’s revenue was up 24.6% compared to the same quarter last year.
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In other news, insider Michael Earl Campbell sold 1,427 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $459.75, for a total value of $656,063.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Karl Strohmeyer sold 250 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $464.96, for a total value of $116,240.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,411 shares of company stock valued at $5,152,777. 0.58% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in EQIX. Capital World Investors increased its holdings in shares of Equinix by 247.0% in the second quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock valued at $458,926,000 after purchasing an additional 761,220 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Equinix by 1,517.9% in the second quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock valued at $214,150,000 after purchasing an additional 468,162 shares during the period. Uniplan Investment Counsel Inc. acquired a new position in shares of Equinix in the second quarter valued at about $13,563,000. JPMorgan Chase & Co. increased its holdings in shares of Equinix by 22.1% in the second quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock valued at $507,583,000 after purchasing an additional 214,396 shares during the period. Finally, Egerton Capital UK LLP acquired a new position in shares of Equinix in the second quarter valued at about $82,970,000. 96.54% of the stock is currently owned by institutional investors and hedge funds.
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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