Cowen and Company reissued their buy rating on shares of Equinix, Inc. (NASDAQ:EQIX) in a research report report published on Friday. The firm currently has a $482.00 target price on the financial services provider’s stock.

Several other analysts also recently weighed in on the company. Barclays PLC upgraded Equinix from an equal weight rating to an overweight rating and increased their target price for the company from $475.00 to $505.00 in a research note on Wednesday, October 18th. UBS AG started coverage on Equinix in a research note on Wednesday, October 18th. They set a neutral rating for the company. Jefferies Group LLC restated a hold rating and set a $440.00 target price on shares of Equinix in a research note on Thursday, October 12th. Berenberg Bank initiated coverage on Equinix in a research note on Tuesday, September 26th. They set a buy rating and a $550.00 target price for the company. Finally, Deutsche Bank AG initiated coverage on Equinix in a research report on Tuesday, October 24th. They issued a buy rating and a $550.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $495.20.

Shares of Equinix (NASDAQ EQIX) traded down $2.65 during trading hours on Friday, reaching $482.21. The company had a trading volume of 279,200 shares, compared to its average volume of 502,432. Equinix has a 1 year low of $314.55 and a 1 year high of $495.35. The company has a market cap of $37,932.39, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 1.95 and a beta of 0.46. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.69 and a current ratio of 2.11.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating the consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The firm had revenue of $1.15 billion during 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 firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. research analysts predict that Equinix will post 16.05 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be issued a $2.00 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.66%. Equinix’s payout ratio is presently 264.03%.

In related news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total transaction of $657,690.00. Following the completion of the sale, the chief financial officer now directly owns 31,393 shares of the company’s stock, valued at approximately $13,764,574.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Earl Campbell sold 1,427 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $459.75, for a total value of $656,063.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,560 shares of company stock valued at $3,459,196. 0.58% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC increased its holdings in Equinix by 2.9% during the 2nd quarter. Proficio Capital Partners LLC now owns 245 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 7 shares in the last quarter. Conning Inc. increased its holdings in Equinix by 0.6% during the 2nd quarter. Conning Inc. now owns 1,550 shares of the financial services provider’s stock valued at $665,000 after purchasing an additional 10 shares in the last quarter. New Amsterdam Partners LLC NY increased its holdings in Equinix by 2.7% during the 2nd quarter. New Amsterdam Partners LLC NY now owns 571 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 15 shares in the last quarter. Solaris Asset Management LLC increased its holdings in Equinix by 3.8% during the 2nd quarter. Solaris Asset Management LLC now owns 552 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 20 shares in the last quarter. Finally, Alps Advisors Inc. increased its holdings in Equinix by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 6,625 shares of the financial services provider’s stock valued at $2,843,000 after purchasing an additional 20 shares in the last quarter. 96.77% of the stock is owned by hedge funds and other institutional investors.

About Equinix

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.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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