Equinix (NASDAQ:EQIX) Given New $907.00 Price Target at Credit Suisse Group

Equinix (NASDAQ:EQIX) had its price target cut by Credit Suisse Group from $932.00 to $907.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $850.00 to $920.00 and gave the stock a buy rating in a research note on Monday, June 14th. Wolfe Research initiated coverage on shares of Equinix in a research note on Thursday, March 18th. They issued an outperform rating on the stock. The Goldman Sachs Group upped their price target on shares of Equinix from $830.00 to $920.00 and gave the stock a buy rating in a research note on Thursday, June 17th. They noted that the move was a valuation call. Evercore ISI initiated coverage on shares of Equinix in a research note on Thursday, March 11th. They issued an outperform rating and a $820.00 price target on the stock. Finally, Mizuho upped their price target on shares of Equinix from $750.00 to $800.00 and gave the stock a buy rating in a research note on Wednesday, April 21st. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Equinix presently has a consensus rating of Buy and an average price target of $864.48.

Shares of NASDAQ:EQIX opened at $779.32 on Thursday. The firm’s fifty day moving average price is $748.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.55 and a current ratio of 1.55. Equinix has a 12-month low of $586.73 and a 12-month high of $839.77. The firm has a market cap of $69.81 billion, a P/E ratio of 31.43, a P/E/G ratio of 2.00 and a beta of 0.28.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 28th. The financial services provider reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.03 by ($4.29). Equinix had a net margin of 6.62% and a return on equity of 5.85%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the firm earned $6.21 earnings per share. Equinix’s revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts expect that Equinix will post 24.41 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 16th. Investors of record on Wednesday, May 19th were given a $2.87 dividend. This represents a $11.48 annualized dividend and a yield of 1.47%. The ex-dividend date was Tuesday, May 18th. Equinix’s dividend payout ratio (DPR) is presently 46.37%.

In other news, CFO Keith D. Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $711.35, for a total transaction of $711,350.00. Following the completion of the sale, the chief financial officer now owns 22,083 shares of the company’s stock, valued at $15,708,742.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles J. Meyers sold 5,051 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $795.42, for a total transaction of $4,017,666.42. Following the sale, the chief executive officer now directly owns 8,815 shares of the company’s stock, valued at approximately $7,011,627.30. The disclosure for this sale can be found here. Insiders sold 16,501 shares of company stock valued at $13,019,508 in the last three months. Company insiders own 13.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp acquired a new stake in shares of Equinix in the first quarter valued at approximately $31,000. CoreFirst Bank & Trust acquired a new stake in shares of Equinix in the first quarter valued at approximately $34,000. Sage Private Wealth Group LLC bought a new position in Equinix in the fourth quarter valued at approximately $36,000. Better Money Decisions LLC bought a new position in Equinix in the first quarter valued at approximately $38,000. Finally, Grandview Asset Management LLC bought a new position in Equinix in the first quarter valued at approximately $39,000. 91.43% of the stock is owned by institutional investors and hedge funds.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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