Equinix (NASDAQ:EQIX) Cut to Hold at BidaskClub

BidaskClub cut shares of Equinix (NASDAQ:EQIX) from a buy rating to a hold rating in a research note released on Thursday, BidAskClub reports.

Several other research analysts have also commented on EQIX. Raymond James reaffirmed a buy rating and set a $21.00 price objective on shares of Colfax in a research note on Thursday, May 2nd. Zacks Investment Research lowered shares of Haynes International from a hold rating to a sell rating in a research note on Wednesday, May 8th. Stifel Nicolaus lifted their price objective on shares of Equinix from $505.00 to $542.00 and gave the stock a buy rating in a research note on Monday, July 1st. Deutsche Bank lowered shares of Mitsubishi Motors from a buy rating to a hold rating in a research note on Thursday, May 9th. Finally, Argus dropped their price objective on shares of AmerisourceBergen from $115.00 to $100.00 and set a buy rating for the company in a research note on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $509.67.

Shares of EQIX opened at $506.61 on Thursday. The stock has a fifty day simple moving average of $506.73. Equinix has a fifty-two week low of $335.29 and a fifty-two week high of $528.98. The company has a market capitalization of $40.97 billion, a PE ratio of 24.49, a PEG ratio of 1.76 and a beta of 0.73. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.56 and a quick ratio of 1.56.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.44 earnings per share for the quarter, missing the consensus estimate of $5.16 by ($3.72). Equinix had a return on equity of 5.66% and a net margin of 8.06%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm posted $5.21 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts anticipate that Equinix will post 20.73 earnings per share for the current year.

In related news, insider Michael Earl Campbell sold 250 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $445.74, for a total value of $111,435.00. Following the completion of the sale, the insider now directly owns 3,578 shares of the company’s stock, valued at $1,594,857.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher B. Paisley sold 200 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $487.88, for a total transaction of $97,576.00. The disclosure for this sale can be found here. Insiders have sold 2,700 shares of company stock valued at $1,314,219 over the last three months. Insiders own 0.49% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Equinix by 10.6% in the first quarter. BlackRock Inc. now owns 6,584,484 shares of the financial services provider’s stock worth $2,983,823,000 after acquiring an additional 632,328 shares during the period. FMR LLC raised its holdings in Equinix by 3.3% in the first quarter. FMR LLC now owns 2,656,695 shares of the financial services provider’s stock worth $1,203,908,000 after purchasing an additional 85,143 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Equinix by 23.6% in the first quarter. Daiwa Securities Group Inc. now owns 1,314,451 shares of the financial services provider’s stock worth $595,656,000 after purchasing an additional 250,921 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Equinix by 10.2% in the first quarter. Clearbridge Investments LLC now owns 1,219,458 shares of the financial services provider’s stock worth $552,610,000 after purchasing an additional 112,564 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Equinix by 7.2% in the first quarter. Northern Trust Corp now owns 1,197,068 shares of the financial services provider’s stock worth $542,463,000 after purchasing an additional 80,619 shares in the last quarter. 99.65% of the stock is owned by institutional investors.

About Equinix

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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