ValuEngine Lowers Equinix (EQIX) to Sell

Equinix (NASDAQ:EQIX) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday.

EQIX has been the topic of a number of other research reports. BMO Capital Markets assumed coverage on Equinix in a report on Tuesday, July 17th. They issued an “outperform” rating and a $526.00 target price on the stock. MED lowered their target price on Equinix to $460.00 and set a “positive” rating on the stock in a report on Thursday, November 1st. BidaskClub downgraded Equinix from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Credit Suisse Group set a $520.00 target price on Equinix and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, KeyCorp assumed coverage on Equinix in a report on Tuesday, October 23rd. They issued a “sector weight” rating on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $501.28.

EQIX stock opened at $384.94 on Thursday. Equinix has a fifty-two week low of $370.79 and a fifty-two week high of $485.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.29 and a current ratio of 1.24. The stock has a market capitalization of $32.16 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.34 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last posted its 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 net margin of 6.46% and a return on equity of 7.70%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company posted $3.63 EPS. The firm’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Equinix will post 18.45 earnings per share for the current year.

In other Equinix news, insider Michael Earl Campbell sold 250 shares of the company’s stock in a transaction dated 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 in the company, valued at $618,233.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith D. Taylor sold 2,000 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was 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 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 90 days, insiders sold 3,566 shares of company stock valued at $1,528,778. Company insiders own 0.51% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of EQIX. Canada Pension Plan Investment Board grew its position in shares of Equinix by 57.1% during the third quarter. Canada Pension Plan Investment Board now owns 136,777 shares of the financial services provider’s stock worth $59,209,000 after purchasing an additional 49,738 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Equinix by 12.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 127,883 shares of the financial services provider’s stock worth $55,239,000 after purchasing an additional 13,968 shares in the last quarter. CIBC World Markets Inc. grew its position in shares of Equinix by 67.3% during the third quarter. CIBC World Markets Inc. now owns 4,891 shares of the financial services provider’s stock worth $2,117,000 after purchasing an additional 1,968 shares in the last quarter. FIL Ltd grew its position in shares of Equinix by 33.8% during the third quarter. FIL Ltd now owns 48,054 shares of the financial services provider’s stock worth $20,802,000 after purchasing an additional 12,147 shares in the last quarter. Finally, American International Group Inc. grew its position in shares of Equinix by 5.4% during the third quarter. American International Group Inc. now owns 32,058 shares of the financial services provider’s stock worth $13,878,000 after purchasing an additional 1,642 shares in the last quarter. Institutional investors and hedge funds own 99.77% of the company’s stock.

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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