Equinix (EQIX) PT Set at $515.00 by Credit Suisse Group

Equinix (NASDAQ:EQIX) has been given a $515.00 price target by equities researchers at Credit Suisse Group in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 12.98% from the company’s previous close.

Several other analysts also recently weighed in on EQIX. Bank of America reissued a “buy” rating and issued a $520.00 target price (up from $450.21) on shares of Equinix in a report on Wednesday, December 13th. BidaskClub raised Equinix from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Oppenheimer boosted their target price on Equinix from $472.00 to $500.00 and gave the company an “outperform” rating in a report on Thursday, November 2nd. Berenberg Bank began coverage on Equinix in a report on Tuesday, September 26th. They issued a “buy” rating and a $550.00 target price for the company. Finally, Citigroup boosted their target price on Equinix from $518.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $501.70.

Shares of Equinix (EQIX) opened at $455.82 on Monday. Equinix has a fifty-two week low of $347.99 and a fifty-two week high of $495.35. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market capitalization of $35,819.44, a PE ratio of 25.75, a PEG ratio of 1.84 and a beta of 0.46.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $3.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business earned $3.95 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. analysts anticipate that Equinix will post 16.05 earnings per share for the current fiscal year.

In other Equinix news, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $476.81, for a total transaction of $953,620.00. Following the transaction, the chief financial officer now owns 27,996 shares in the company, valued at approximately $13,348,772.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $438.46, for a total value of $657,690.00. Following the transaction, the chief financial officer now owns 31,393 shares in the company, valued at approximately $13,764,574.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,693 shares of company stock valued at $3,549,881. 0.58% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Forsta AP Fonden increased its position in Equinix by 33.8% during the 3rd quarter. Forsta AP Fonden now owns 30,100 shares of the financial services provider’s stock worth $13,434,000 after purchasing an additional 7,600 shares during the period. Verition Fund Management LLC increased its position in Equinix by 17.0% during the 2nd quarter. Verition Fund Management LLC now owns 819 shares of the financial services provider’s stock worth $351,000 after purchasing an additional 119 shares during the period. Amica Pension Fund Board of Trustees acquired a new position in Equinix during the 3rd quarter worth approximately $1,235,000. Honeywell International Inc. increased its position in Equinix by 30.0% during the 3rd quarter. Honeywell International Inc. now owns 22,253 shares of the financial services provider’s stock worth $9,932,000 after purchasing an additional 5,139 shares during the period. Finally, Nicholas Company Inc. acquired a new stake in shares of Equinix in the 2nd quarter worth approximately $3,201,000. Institutional investors own 94.34% of the company’s stock.

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About Equinix

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.

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