Equinix (NASDAQ:EQIX) Price Target Increased to $680.00 by Analysts at Stifel Nicolaus

Equinix (NASDAQ:EQIX) had its price target hoisted by Stifel Nicolaus from $620.00 to $680.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has a buy rating on the financial services provider’s stock.

EQIX has been the subject of a number of other research reports. ValuEngine downgraded shares of Equinix from a hold rating to a sell rating in a report on Thursday, January 23rd. Oppenheimer raised their price target on shares of Equinix from $550.00 to $650.00 and gave the stock an outperform rating in a report on Thursday, October 31st. SunTrust Banks raised their price target on shares of Equinix from $560.00 to $680.00 and gave the stock a buy rating in a report on Thursday. Nomura raised their price target on shares of Equinix from $575.00 to $625.00 and gave the stock a buy rating in a report on Friday, October 18th. Finally, Raymond James raised their price target on shares of Equinix from $560.00 to $625.00 and gave the stock a strong-buy rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $613.55.

EQIX stock traded up $12.90 during mid-day trading on Thursday, reaching $648.65. The company’s stock had a trading volume of 438,565 shares, compared to its average volume of 376,300. The stock has a market cap of $49.49 billion, a PE ratio of 109.94, a P/E/G ratio of 2.03 and a beta of 0.64. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33. Equinix has a fifty-two week low of $399.57 and a fifty-two week high of $636.43. The company’s 50 day moving average is $593.77 and its two-hundred day moving average is $565.00.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.56 by ($0.10). The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 EPS. On average, analysts forecast that Equinix will post 20.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 26th will be given a dividend of $2.66 per share. The ex-dividend date is Tuesday, February 25th. This represents a $10.64 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Equinix’s previous quarterly dividend of $2.46. Equinix’s dividend payout ratio (DPR) is presently 47.56%.

In related news, insider Sara Baack sold 250 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $564.81, for a total transaction of $141,202.50. Following the completion of the transaction, the insider now owns 7,922 shares of the company’s stock, valued at approximately $4,474,424.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl Strohmeyer sold 6,055 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $592.52, for a total transaction of $3,587,708.60. Following the transaction, the insider now directly owns 3,685 shares of the company’s stock, valued at approximately $2,183,436.20. The disclosure for this sale can be found here. Insiders have sold a total of 17,159 shares of company stock valued at $10,149,833 in the last ninety days. 0.49% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the stock. Tarbox Family Office Inc. boosted its position in Equinix by 181.3% in the 3rd quarter. Tarbox Family Office Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after buying an additional 29 shares during the period. Princeton Global Asset Management LLC purchased a new position in Equinix in the 4th quarter valued at approximately $26,000. Savior LLC purchased a new position in Equinix in the 4th quarter valued at approximately $32,000. TCI Wealth Advisors Inc. boosted its position in Equinix by 81.1% in the 4th quarter. TCI Wealth Advisors Inc. now owns 67 shares of the financial services provider’s stock valued at $39,000 after buying an additional 30 shares during the period. Finally, Baystate Wealth Management LLC boosted its position in Equinix by 91.9% in the 3rd quarter. Baystate Wealth Management LLC now owns 71 shares of the financial services provider’s stock valued at $41,000 after buying an additional 34 shares during the period. 99.37% of the stock is owned by hedge funds and other institutional investors.

Equinix Company Profile

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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