Equinix (NASDAQ:EQIX) Raised to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Equinix (NASDAQ:EQIX) from a buy rating to a strong-buy rating in a report issued on Saturday morning, BidAskClub reports.

A number of other analysts also recently issued reports on the stock. Raymond James lifted their price objective on shares of Equinix from $520.00 to $560.00 and gave the stock a strong-buy rating in a report on Thursday, August 1st. Citigroup lifted their price objective on shares of Equinix from $508.00 to $527.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Deutsche Bank lifted their price objective on shares of Equinix from $480.00 to $500.00 and gave the stock a buy rating in a report on Thursday, May 9th. Guggenheim lifted their price objective on shares of Equinix from $505.00 to $540.00 and gave the stock a sell rating in a report on Tuesday, July 2nd. Finally, Nomura lifted their price objective on shares of Equinix from $505.00 to $575.00 and gave the stock a buy rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $527.21.

EQIX opened at $547.00 on Friday. The company has a fifty day moving average price of $522.22 and a 200-day moving average price of $475.25. The firm has a market capitalization of $44.50 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.83 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.59 and a quick ratio of 1.59. Equinix has a one year low of $335.29 and a one year high of $557.96.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing analysts’ consensus estimates of $5.14 by ($3.45). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Equinix had a net margin of 9.29% and a return on equity of 6.29%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.63 earnings per share. On average, analysts expect that Equinix will post 20.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be paid a dividend of $2.46 per share. This represents a $9.84 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Tuesday, August 20th. Equinix’s dividend payout ratio (DPR) is 47.56%.

In other news, insider Brandi Galvin Morandi sold 2,960 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $516.44, for a total transaction of $1,528,662.40. Following the completion of the transaction, the insider now directly owns 19,253 shares of the company’s stock, valued at $9,943,019.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Simon Miller sold 385 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $516.27, for a total transaction of $198,763.95. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $355,710.03. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,786 shares of company stock valued at $4,156,774. Insiders own 0.49% of the company’s stock.

Several large investors have recently modified their holdings of EQIX. Carroll Financial Associates Inc. increased its position in shares of Equinix by 63.6% during the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after buying an additional 21 shares during the period. Berman Capital Advisors LLC increased its position in shares of Equinix by 44.9% during the second quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock valued at $35,000 after buying an additional 22 shares during the period. Eagle Boston Investment Management Inc. increased its position in shares of Equinix by 1.1% during the first quarter. Eagle Boston Investment Management Inc. now owns 2,075 shares of the financial services provider’s stock valued at $940,000 after buying an additional 23 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Equinix by 25.3% during the first quarter. Rehmann Capital Advisory Group now owns 114 shares of the financial services provider’s stock valued at $52,000 after buying an additional 23 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. increased its position in shares of Equinix by 27.9% during the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 110 shares of the financial services provider’s stock valued at $50,000 after buying an additional 24 shares during the period. 95.48% of the stock is owned by hedge funds and other 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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