Equinix, Inc. (NASDAQ:EQIX) Receives Average Recommendation of “Buy” from Brokerages

Shares of Equinix, Inc. (NASDAQ:EQIX) have been given an average rating of “Buy” by the twenty-one analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $456.17.

Several research firms recently issued reports on EQIX. Nomura assumed coverage on shares of Equinix in a research note on Thursday, May 25th. They issued a “buy” rating and a $490.00 price objective for the company. Canaccord Genuity reissued a “buy” rating and set a $525.00 target price on shares of Equinix in a research report on Monday, June 12th. Citigroup Inc. boosted their target price on shares of Equinix from $435.00 to $462.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. FBN Securities upped their price objective on shares of Equinix from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Monday, May 1st. Finally, Zacks Investment Research raised shares of Equinix from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd.

Equinix (NASDAQ EQIX) traded up 0.17% on Monday, hitting $424.01. The stock had a trading volume of 53,749 shares. Equinix has a one year low of $314.55 and a one year high of $447.26.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $4.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.20 by $0.94. The company had revenue of $949.53 million for the quarter, compared to analysts’ expectations of $946.89 million. Equinix had a return on equity of 5.88% and a net margin of 5.38%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 earnings per share. On average, equities research analysts predict that Equinix will post $4.50 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, May 24th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 1.89%. The ex-dividend date was Monday, May 22nd. Equinix’s payout ratio is currently 286.74%.

In other news, COO Charles J. Meyers sold 154 shares of Equinix stock in a transaction on Monday, May 8th. The stock was sold at an average price of $426.66, for a total value of $65,705.64. Following the completion of the sale, the chief operating officer now directly owns 183 shares of the company’s stock, valued at $78,078.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen M. Smith sold 5,349 shares of Equinix stock in a transaction on Monday, April 17th. The shares were sold at an average price of $401.37, for a total value of $2,146,928.13. Following the completion of the sale, the chief executive officer now directly owns 29,057 shares of the company’s stock, valued at $11,662,608.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,202 shares of company stock worth $9,901,690. 0.58% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Equinix by 22.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,650 shares of the financial services provider’s stock valued at $708,000 after buying an additional 300 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Equinix by 19.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 9,245 shares of the financial services provider’s stock valued at $3,701,000 after buying an additional 1,511 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Equinix by 64.8% in the first quarter. Nuveen Asset Management LLC now owns 672,053 shares of the financial services provider’s stock valued at $269,070,000 after buying an additional 264,226 shares during the last quarter. Cpcm LLC increased its stake in Equinix by 0.4% in the first quarter. Cpcm LLC now owns 1,255 shares of the financial services provider’s stock valued at $502,000 after buying an additional 5 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its stake in Equinix by 20.8% in the first quarter. Perigon Wealth Management LLC now owns 1,565 shares of the financial services provider’s stock valued at $627,000 after buying an additional 269 shares during the last quarter. 97.25% of the stock is owned by hedge funds and other institutional investors.

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Equinix Company Profile

Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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