Equinix (NASDAQ:EQIX) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Equinix (NASDAQ:EQIX) in a note issued to investors on Thursday,Benzinga reports. The brokerage set an “overweight” rating and a $1,173.00 price target on the financial services provider’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 15.26% from the company’s previous close.

Several other research firms have also recently commented on EQIX. Stifel Nicolaus set a $1,075.00 price target on shares of Equinix in a report on Thursday, February 12th. Wells Fargo & Company boosted their price target on shares of Equinix from $925.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. UBS Group boosted their price target on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a report on Thursday, February 12th. BMO Capital Markets boosted their price target on shares of Equinix from $925.00 to $1,050.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Finally, HSBC set a $1,050.00 price target on shares of Equinix and gave the company a “buy” rating in a report on Thursday, January 15th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,025.96.

Equinix Trading Up 1.0%

Equinix stock opened at $1,017.66 on Thursday. The company’s fifty day simple moving average is $939.19 and its 200-day simple moving average is $839.14. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix has a 12 month low of $701.41 and a 12 month high of $1,023.47. The stock has a market cap of $99.99 billion, a P/E ratio of 74.01, a P/E/G ratio of 2.57 and a beta of 1.01.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the prior year, the firm earned $7.92 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. As a group, sell-side analysts forecast that Equinix will post 33.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Charles J. Meyers sold 305 shares of Equinix stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $961.19, for a total value of $293,162.95. Following the completion of the sale, the chairman owned 12,594 shares of the company’s stock, valued at approximately $12,105,226.86. The trade was a 2.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan Lin sold 635 shares of Equinix stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $965.71, for a total transaction of $613,225.85. Following the completion of the sale, the insider directly owned 10,788 shares of the company’s stock, valued at approximately $10,418,079.48. The trade was a 5.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,842 shares of company stock worth $14,494,840 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EQIX. Norges Bank acquired a new position in Equinix during the 4th quarter worth $984,355,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Equinix by 408.1% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,186,497 shares of the financial services provider’s stock worth $929,312,000 after acquiring an additional 953,001 shares during the last quarter. SG Americas Securities LLC lifted its position in Equinix by 377,167.4% during the 4th quarter. SG Americas Securities LLC now owns 716,808 shares of the financial services provider’s stock worth $549,190,000 after acquiring an additional 716,618 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Equinix by 25.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock worth $2,252,094,000 after acquiring an additional 588,967 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its position in Equinix by 23.3% during the 4th quarter. Cohen & Steers Inc. now owns 2,609,011 shares of the financial services provider’s stock worth $1,998,978,000 after acquiring an additional 493,141 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.