Credit Suisse Group Analysts Give Equinix (EQIX) a $500.00 Price Target

Credit Suisse Group set a $500.00 target price on Equinix (NASDAQ:EQIX) in a research note released on Friday morning. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. BidaskClub raised Equinix from a sell rating to a hold rating in a research report on Saturday, September 15th. ValuEngine downgraded Equinix from a hold rating to a sell rating in a research report on Thursday, August 23rd. BMO Capital Markets began coverage on Equinix in a research report on Tuesday, July 17th. They set an outperform rating and a $526.00 price target for the company. Zacks Investment Research downgraded Equinix from a buy rating to a hold rating in a research report on Monday, July 9th. Finally, Mitsubishi UFJ Financial Group upped their price target on Equinix to $483.00 and gave the stock an overweight rating in a research report on Friday, August 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $503.84.

NASDAQ:EQIX traded up $5.74 during trading hours on Friday, reaching $392.43. 1,086,299 shares of the stock were exchanged, compared to its average volume of 546,318. Equinix has a twelve month low of $370.79 and a twelve month high of $495.35. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.60. The company has a market cap of $31.20 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.30 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.47 by ($2.92). Equinix had a return on equity of 7.75% and a net margin of 6.46%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $3.63 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. As a group, analysts anticipate that Equinix will post 18.58 earnings per share for the current fiscal year.

In other news, insider Michael Earl Campbell sold 250 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $433.24, for a total value of $108,310.00. Following the completion of the sale, the insider now owns 1,427 shares of the company’s stock, valued at approximately $618,233.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Keith D. Taylor sold 2,000 shares of the stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $431.65, for a total value of $863,300.00. Following the completion of the sale, the chief financial officer now directly owns 21,141 shares of the company’s stock, valued at approximately $9,125,512.65. The disclosure for this sale can be found here. In the last three months, insiders sold 3,566 shares of company stock valued at $1,528,778. 0.51% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bridgeworth LLC acquired a new stake in Equinix during the 2nd quarter valued at $100,000. We Are One Seven LLC acquired a new stake in Equinix during the 3rd quarter valued at $204,000. First Allied Advisory Services Inc. acquired a new stake in Equinix during the 2nd quarter valued at $206,000. Park Avenue Securities LLC acquired a new stake in Equinix during the 2nd quarter valued at $214,000. Finally, Greenleaf Trust acquired a new stake in Equinix during the 3rd quarter valued at $226,000. 99.67% of the stock is owned by institutional investors.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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