Equinix (NASDAQ:EQIX) Given a $581.00 Price Target by Credit Suisse Group Analysts

Credit Suisse Group set a $581.00 target price on Equinix (NASDAQ:EQIX) in a research note published on Wednesday morning, TipRanks reports. The firm currently has a buy rating on the financial services provider’s stock.

EQIX has been the topic of several other research reports. BidaskClub upgraded shares of Equinix from a buy rating to a strong-buy rating in a research note on Wednesday, September 25th. Oppenheimer increased their price target 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. Mitsubishi UFJ Financial Group began coverage on shares of Equinix in a research note on Tuesday, September 10th. They set an overweight rating and a $605.00 price target on the stock. Raymond James increased their price target on shares of Equinix from $520.00 to $560.00 and gave the stock a strong-buy rating in a research note on Thursday, August 1st. Finally, UBS Group increased their price target on shares of Equinix from $510.00 to $560.00 and gave the stock a buy rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Equinix presently has a consensus rating of Buy and a consensus price target of $536.65.

Shares of EQIX traded down $5.59 during mid-day trading on Wednesday, hitting $566.61. 221,198 shares of the company’s stock were exchanged, compared to its average volume of 450,313. The firm has a fifty day moving average of $560.85 and a two-hundred day moving average of $509.78. Equinix has a twelve month low of $335.29 and a twelve month high of $609.97. The stock has a market cap of $46.05 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 1.89 and a beta of 0.69. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.34.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the company earned $3.63 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Equinix will post 20.69 earnings per share for the current year.

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

In other Equinix news, insider Brandi Galvin Morandi sold 2,960 shares of the 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 sale, the insider now directly owns 19,253 shares of the company’s stock, valued at approximately $9,943,019.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Earl Campbell sold 1,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $543.75, for a total transaction of $543,750.00. Following the completion of the transaction, the insider now owns 2,078 shares of the company’s stock, valued at approximately $1,129,912.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,409 shares of company stock valued at $6,727,033. Insiders own 0.49% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Equinix by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 10,717,936 shares of the financial services provider’s stock valued at $5,404,948,000 after buying an additional 102,976 shares in the last quarter. Edgewood Management LLC raised its stake in shares of Equinix by 1.0% in the 2nd quarter. Edgewood Management LLC now owns 3,637,333 shares of the financial services provider’s stock valued at $1,834,270,000 after buying an additional 36,129 shares in the last quarter. FMR LLC raised its stake in shares of Equinix by 3.3% in the 1st quarter. FMR LLC now owns 2,656,695 shares of the financial services provider’s stock valued at $1,203,908,000 after buying an additional 85,143 shares in the last quarter. Northern Trust Corp raised its stake in shares of Equinix by 3.7% in the 2nd quarter. Northern Trust Corp now owns 1,240,929 shares of the financial services provider’s stock valued at $625,787,000 after buying an additional 43,861 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Equinix by 10.2% in the 1st 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 in the last quarter. Institutional investors own 98.41% 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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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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