Equinix (NASDAQ:EQIX) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of Equinix (NASDAQ:EQIX) from a hold rating to a buy rating in a report released on Friday morning, ValuEngine reports.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Equinix from $542.00 to $550.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Oppenheimer boosted their target price on shares of Equinix from $500.00 to $550.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Morgan Stanley boosted their target price on shares of Equinix from $435.00 to $510.00 and gave the stock an equal weight rating in a research note on Thursday. Mitsubishi UFJ Financial Group assumed coverage on shares of Equinix in a research note on Tuesday, September 10th. They set an overweight rating and a $605.00 target price for the company. Finally, Guggenheim boosted their target price on shares of Equinix from $505.00 to $540.00 and gave the stock a sell rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $532.40.

Equinix stock opened at $566.45 on Friday. Equinix has a twelve month low of $335.29 and a twelve month high of $571.70. The stock’s fifty day simple moving average is $547.18 and its 200-day simple moving average is $496.07. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $46.01 billion, a P/E ratio of 27.38, a P/E/G ratio of 1.89 and a beta of 0.70.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.14 by ($3.45). The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Equinix had a return on equity of 6.29% and a net margin of 9.29%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.63 EPS. Sell-side analysts predict that Equinix will post 20.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a $2.46 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $9.84 annualized dividend and a yield of 1.74%. Equinix’s dividend payout ratio is presently 47.56%.

In other Equinix news, insider Brandi Galvin Morandi sold 2,960 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $516.44, for a total value of $1,528,662.40. Following the completion of the transaction, the insider now owns 19,253 shares in the company, valued at $9,943,019.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Simon Miller sold 385 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $516.27, for a total transaction of $198,763.95. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $355,710.03. The disclosure for this sale can be found here. Insiders sold 12,409 shares of company stock valued at $6,727,033 in the last 90 days. 0.49% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC raised its holdings in shares of Equinix by 195.3% in the second quarter. Nuveen Asset Management LLC now owns 1,038,360 shares of the financial services provider’s stock valued at $523,634,000 after buying an additional 686,771 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Equinix by 10.6% in the first quarter. BlackRock Inc. now owns 6,584,484 shares of the financial services provider’s stock valued at $2,983,823,000 after buying an additional 632,328 shares during the last quarter. Waddell & Reed Financial Inc. purchased a new stake in shares of Equinix in the second quarter valued at about $94,127,000. Pictet Asset Management Ltd. raised its holdings in shares of Equinix by 24.2% in the first quarter. Pictet Asset Management Ltd. now owns 628,200 shares of the financial services provider’s stock valued at $284,675,000 after buying an additional 122,286 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Equinix by 10.2% in the first quarter. Clearbridge Investments LLC now owns 1,219,458 shares of the financial services provider’s stock valued at $552,610,000 after buying an additional 112,564 shares during the last quarter.

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.

Featured Article: How does a margin account work?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.