Equinix, Inc. (EQIX) Receives New Coverage from Analysts at UBS AG
Equities researchers at UBS AG initiated coverage on shares of Equinix, Inc. (NASDAQ:EQIX) in a research report issued to clients and investors on Wednesday. The brokerage set a “neutral” rating on the financial services provider’s stock.
A number of other equities analysts have also recently issued reports on the company. Cowen and Company restated a “buy” rating on shares of Equinix in a report on Friday, July 21st. Credit Suisse Group initiated coverage on Equinix in a report on Friday, June 30th. They set an “outperform” rating and a $510.00 price objective for the company. BidaskClub cut Equinix from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Jefferies Group LLC restated a “hold” rating and set a $410.00 price objective on shares of Equinix in a report on Tuesday, July 4th. Finally, Macquarie reiterated an “outperform” rating and issued a $450.00 target price on shares of Equinix in a report on Tuesday, July 4th. Four analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Equinix has an average rating of “Buy” and an average price target of $471.94.
Equinix (NASDAQ:EQIX) opened at 461.58 on Wednesday. Equinix has a one year low of $314.55 and a one year high of $475.28.
Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.41 by $1.18. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Analysts anticipate that Equinix will post $3.81 earnings per share for the current fiscal year.
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In other Equinix news, insider Michael Earl Campbell sold 200 shares of Equinix stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $463.61, for a total transaction of $92,722.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Karl Strohmeyer sold 250 shares of Equinix stock in a transaction dated Friday, August 25th. The stock was 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 9,911 shares of company stock valued at $4,469,647. 0.58% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in EQIX. BlackRock Inc. lifted its holdings in Equinix by 3,737.0% during the 1st quarter. BlackRock Inc. now owns 6,295,590 shares of the financial services provider’s stock worth $2,520,566,000 after buying an additional 6,131,516 shares during the last quarter. Capital World Investors lifted its holdings in Equinix by 247.0% during the 2nd quarter. Capital World Investors now owns 1,069,359 shares of the financial services provider’s stock worth $458,926,000 after buying an additional 761,220 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Equinix by 1,517.9% during the 2nd quarter. Janus Henderson Group PLC now owns 499,004 shares of the financial services provider’s stock worth $214,150,000 after buying an additional 468,162 shares during the last quarter. Uniplan Investment Counsel Inc. purchased a new stake in Equinix during the 2nd quarter worth about $13,563,000. Finally, Nuveen Asset Management LLC lifted its holdings in Equinix by 64.8% during the 1st quarter. Nuveen Asset Management LLC now owns 672,053 shares of the financial services provider’s stock worth $269,070,000 after buying an additional 264,226 shares during the last quarter. 96.44% of the stock is owned by institutional investors.
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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