Equinix, Inc. (NASDAQ:EQIX) issued its earnings results on Tuesday. The financial services provider reported $3.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $2.24, Bloomberg Earnings reports. Equinix had a return on equity of 5.51% and a net margin of 5.18%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business earned $3.95 earnings per share. The company’s revenue was up 24.6% compared to the same quarter last year.
In other Equinix news, Director Camp Peter Van sold 4,444 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $445.81, for a total value of $1,981,179.64. Following the transaction, the director now owns 8,572 shares in the company, valued at $3,821,483.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Karl Strohmeyer sold 250 shares of the stock in a transaction that occurred on 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. In the last quarter, insiders sold 11,411 shares of company stock worth $5,152,777. Corporate insiders own 0.58% of the company’s stock.
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A number of equities analysts have issued reports on EQIX shares. Jefferies Group LLC restated a “hold” rating and set a $410.00 target price on shares of Equinix in a report on Tuesday, July 4th. Macquarie reiterated an “outperform” rating and set a $450.00 price objective on shares of Equinix in a report on Tuesday, July 4th. Royal Bank Of Canada reiterated a “buy” rating and set a $470.00 price objective on shares of Equinix in a report on Sunday, July 9th. Cowen and Company reiterated a “buy” rating on shares of Equinix in a report on Friday, July 21st. Finally, BidaskClub upgraded Equinix from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $477.63.
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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