Equinix’s (EQIX) “Buy” Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Equinix (NASDAQ:EQIX) in a report published on Thursday morning, TipRanks reports. The firm currently has a $620.00 price target on the financial services provider’s stock.

Several other equities analysts have also weighed in on EQIX. UBS Group increased their price objective on shares of Equinix from $560.00 to $630.00 and gave the company a buy rating in a research report on Friday, November 1st. BidaskClub lowered shares of Equinix from a buy rating to a hold rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of Equinix from $524.00 to $580.00 and gave the company an overweight rating in a research report on Thursday, August 1st. FBN Securities increased their price objective on shares of Equinix from $550.00 to $625.00 and gave the company an outperform rating in a research report on Monday, November 4th. Finally, BMO Capital Markets increased their price objective on shares of Equinix to $610.00 and gave the company a positive rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $567.90.

EQIX traded up $6.21 during trading hours on Thursday, hitting $556.62. 7,333 shares of the company’s stock were exchanged, compared to its average volume of 433,455. Equinix has a 1-year low of $335.29 and a 1-year high of $609.97. The stock’s 50-day moving average is $563.07 and its two-hundred day moving average is $527.72. The stock has a market cap of $44.05 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.98 and a beta of 0.69. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.96 by ($3.55). The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share. On average, equities research analysts anticipate that Equinix will post 20.63 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $2.46 per share. The ex-dividend date is Tuesday, November 19th. This represents a $9.84 annualized dividend and a yield of 1.77%. Equinix’s payout ratio is 47.56%.

In other news, Director Christopher B. Paisley sold 200 shares of Equinix stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $551.24, for a total value of $110,248.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brandi Galvin Morandi sold 589 shares of Equinix stock in a transaction on Monday, November 4th. The shares were sold at an average price of $560.67, for a total transaction of $330,234.63. Following the completion of the sale, the insider now owns 15,904 shares of the company’s stock, valued at approximately $8,916,895.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,462 shares of company stock valued at $3,041,825. Company insiders own 0.49% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Equinix during the 2nd quarter worth $26,000. Meeder Asset Management Inc. bought a new stake in Equinix in the 2nd quarter valued at about $26,000. Tarbox Family Office Inc. raised its stake 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 acquiring an additional 29 shares during the period. Carroll Financial Associates Inc. raised its stake in Equinix by 63.6% in the 2nd quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 21 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in Equinix in the 2nd quarter valued at about $29,000. Institutional investors own 98.59% of the company’s stock.

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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