Shares of Equinix, Inc. (NASDAQ:EQIX) have earned a consensus recommendation of “Buy” from the twenty-two ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $502.95.

A number of equities analysts recently commented on EQIX shares. Citigroup upped 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. Nomura upped their target price on Equinix from $490.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Deutsche Bank started coverage on Equinix in a report on Tuesday, October 24th. They set a “buy” rating and a $550.00 target price for the company. Berenberg Bank started coverage on Equinix in a research note on Tuesday, September 26th. They issued a “buy” rating and a $550.00 price target on the stock. Finally, Zacks Investment Research raised Equinix from a “hold” rating to a “buy” rating and set a $547.00 price target on the stock in a research note on Monday, November 6th.

In other news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $457.84, for a total value of $686,760.00. Following the sale, the chief financial officer now directly owns 26,196 shares of the company’s stock, valued at $11,993,576.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 200 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $462.43, for a total value of $92,486.00. Following the completion of the sale, the insider now directly owns 925 shares in the company, valued at $427,747.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,193 shares of company stock worth $2,892,191. Insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Equinix by 0.4% in the second quarter. FMR LLC now owns 2,737,598 shares of the financial services provider’s stock worth $1,174,868,000 after acquiring an additional 10,307 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,898,601 shares of the financial services provider’s stock valued at $847,345,000 after buying an additional 6,178 shares during the last quarter. Edgewood Management LLC boosted its position in shares of Equinix by 1.0% during the third quarter. Edgewood Management LLC now owns 1,862,778 shares of the financial services provider’s stock valued at $831,358,000 after buying an additional 18,248 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Equinix by 7.8% during the third quarter. Bank of New York Mellon Corp now owns 1,493,095 shares of the financial services provider’s stock valued at $666,367,000 after buying an additional 108,231 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Equinix by 22.1% during the second quarter. JPMorgan Chase & Co. now owns 1,182,730 shares of the financial services provider’s stock valued at $507,583,000 after buying an additional 214,396 shares during the last quarter. 94.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Equinix (EQIX) traded up $1.54 during trading on Monday, hitting $449.49. The company had a trading volume of 333,000 shares, compared to its average volume of 400,052. The company has a debt-to-equity ratio of 1.51, a quick ratio of 2.11 and a current ratio of 2.11. The company has a market capitalization of $35,044.79, a P/E ratio of 148.35, a PEG ratio of 1.55 and a beta of 0.46. Equinix has a one year low of $361.90 and a one year high of $495.35.

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

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Investors of record on Wednesday, November 15th were paid a $2.00 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $8.00 annualized dividend and a yield of 1.78%. Equinix’s payout ratio is 264.03%.

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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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