Equinix, Inc. (NASDAQ:EQIX) had its target price upped by equities researchers at Royal Bank Of Canada from $470.00 to $505.00 in a research report issued to clients and investors on Monday, August 7th, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 12.22% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. Nomura began coverage on Equinix in a report on Thursday, May 25th. They issued a “buy” rating and a $490.00 target price on the stock. Canaccord Genuity reissued a “buy” rating and issued a $525.00 price target on shares of Equinix in a research report on Monday, June 12th. Cowen and Company reissued a “buy” rating on shares of Equinix in a research report on Friday, July 21st. Zacks Investment Research raised Equinix from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, FBN Securities increased their price target on Equinix from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Equinix currently has a consensus rating of “Buy” and a consensus price target of $464.78.
Equinix (EQIX) traded down 0.34% during mid-day trading on Monday, hitting $450.00. 520,694 shares of the stock were exchanged. The stock has a 50 day moving average price of $440.37 and a 200 day moving average price of $414.83. Equinix has a 1-year low of $314.55 and a 1-year high of $459.00.
Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $4.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.03 billion. On average, analysts anticipate that Equinix will post $3.90 EPS for the current year.
In other news, CFO Keith D. Taylor sold 2,500 shares of Equinix stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $435.62, for a total transaction of $1,089,050.00. Following the completion of the sale, the chief financial officer now owns 35,015 shares in the company, valued at approximately $15,253,234.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen M. Smith sold 5,348 shares of Equinix stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $432.60, for a total value of $2,313,544.80. Following the sale, the chief executive officer now owns 18,967 shares of the company’s stock, valued at approximately $8,205,124.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,143 shares of company stock valued at $9,703,456. 0.58% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of EQIX. Toronto Dominion Bank increased its stake in shares of Equinix by 25.9% in the second quarter. Toronto Dominion Bank now owns 26,388 shares of the financial services provider’s stock worth $11,322,000 after buying an additional 5,431 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Equinix during the second quarter worth about $275,000. Public Employees Retirement System of Ohio increased its stake in shares of Equinix by 50.7% in the second quarter. Public Employees Retirement System of Ohio now owns 53,511 shares of the financial services provider’s stock worth $22,965,000 after buying an additional 18,000 shares during the period. 1st Global Advisors Inc. increased its stake in shares of Equinix by 8.9% in the second quarter. 1st Global Advisors Inc. now owns 3,720 shares of the financial services provider’s stock worth $1,597,000 after buying an additional 304 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of Equinix by 17.0% in the second quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock worth $351,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.
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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