Equinix, Inc. (NASDAQ:EQIX)‘s stock had its “equal weight” rating reiterated by research analysts at Barclays PLC in a report issued on Wednesday, August 9th. They presently have a $475.00 price objective on the financial services provider’s stock, up from their prior price objective of $410.00. Barclays PLC’s price objective would suggest a potential upside of 5.56% from the company’s current price.
Other research analysts have also issued reports about the company. Nomura assumed coverage on Equinix in a report on Thursday, May 25th. They set a “buy” rating and a $490.00 target price on the stock. Canaccord Genuity reiterated a “buy” rating and set a $525.00 target price on shares of Equinix in a report on Monday, June 12th. Cowen and Company restated a “buy” rating on shares of Equinix in a report on Friday, July 21st. Royal Bank Of Canada boosted their price target on Equinix from $470.00 to $505.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Finally, BidaskClub lowered Equinix from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 8th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Equinix presently has a consensus rating of “Buy” and a consensus price target of $464.78.
Shares of Equinix (EQIX) traded down 0.34% during trading on Wednesday, reaching $450.00. 520,694 shares of the company’s stock traded hands. The company 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 announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $4.59 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 business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Equities analysts forecast that Equinix will post $3.90 EPS for the current year.
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In other Equinix news, insider Yau Tat Lee sold 5,875 shares of Equinix stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $438.70, for a total transaction of $2,577,362.50. Following the transaction, the insider now owns 5,485 shares of the company’s stock, valued at approximately $2,406,269.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Camp Peter Van sold 4,444 shares of Equinix stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $445.81, for a total transaction of $1,981,179.64. Following the transaction, the director now directly owns 8,572 shares in the company, valued at approximately $3,821,483.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,143 shares of company stock valued at $9,703,456. Company insiders own 0.58% of the company’s stock.
Several large investors have recently bought and sold shares of EQIX. BlackRock Inc. boosted its stake in Equinix by 3,737.0% in the first 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 period. Vanguard Group Inc. boosted its stake in Equinix by 9.9% in the first quarter. Vanguard Group Inc. now owns 13,186,442 shares of the financial services provider’s stock worth $5,279,456,000 after buying an additional 1,192,961 shares during the period. Capital World Investors boosted its stake in Equinix by 247.0% in the second 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 period. Janus Henderson Group PLC boosted its stake in 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 worth $214,150,000 after buying an additional 468,162 shares during the period. Finally, Uniplan Investment Counsel Inc. bought a new stake in Equinix during the second quarter worth approximately $13,563,000. 95.16% of the stock is currently owned by institutional investors.
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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