BMO Capital Markets Cuts Equinix (NASDAQ:EQIX) Price Target to $770.00

Equinix (NASDAQ:EQIXGet Rating) had its price target dropped by equities research analysts at BMO Capital Markets from $825.00 to $770.00 in a report released on Thursday, The Fly reports. BMO Capital Markets’ price target would suggest a potential upside of 14.93% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays reduced their price objective on shares of Equinix from $829.00 to $815.00 in a research report on Thursday, February 17th. JPMorgan Chase & Co. upped their price target on shares of Equinix from $860.00 to $880.00 in a research note on Friday, April 29th. TD Securities upgraded shares of Equinix from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $900.00 to $850.00 in a research note on Thursday, February 17th. StockNews.com downgraded shares of Equinix from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. Finally, Citigroup assumed coverage on shares of Equinix in a report on Sunday, March 20th. They set a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $849.06.

EQIX stock traded down $16.53 during midday trading on Thursday, reaching $670.00. 566,672 shares of the company were exchanged, compared to its average volume of 464,553. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.91 and a quick ratio of 1.91. The business has a 50-day moving average price of $715.61 and a two-hundred day moving average price of $741.70. Equinix has a one year low of $621.34 and a one year high of $885.26. The firm has a market capitalization of $60.98 billion, a price-to-earnings ratio of 123.62, a price-to-earnings-growth ratio of 3.00 and a beta of 0.46.

Equinix (NASDAQ:EQIXGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $1.62 EPS for the quarter, missing analysts’ consensus estimates of $6.46 by ($4.84). Equinix had a return on equity of 4.57% and a net margin of 7.25%. During the same quarter in the prior year, the firm earned $6.98 EPS. As a group, analysts anticipate that Equinix will post 25.86 earnings per share for the current fiscal year.

In related news, Director Christopher B. Paisley sold 50 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $651.91, for a total value of $32,595.50. Following the completion of the transaction, the director now owns 17,563 shares of the company’s stock, valued at approximately $11,449,495.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Keith D. Taylor sold 1,000 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $658.39, for a total transaction of $658,390.00. Following the sale, the chief financial officer now directly owns 21,120 shares in the company, valued at approximately $13,905,196.80. The disclosure for this sale can be found here. Insiders have sold a total of 8,612 shares of company stock valued at $5,982,636 in the last three months. 0.32% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Rational Advisors LLC increased its holdings in shares of Equinix by 123.1% during the fourth quarter. Rational Advisors LLC now owns 29 shares of the financial services provider’s stock worth $25,000 after buying an additional 16 shares in the last quarter. Amplius Wealth Advisors LLC acquired a new position in shares of Equinix during the fourth quarter worth $25,000. Lee Financial Co acquired a new position in shares of Equinix during the fourth quarter worth $30,000. Earnest Partners LLC acquired a new position in shares of Equinix during the fourth quarter worth $32,000. Finally, Bellevue Group AG acquired a new position in shares of Equinix during the fourth quarter worth $34,000. Institutional investors own 92.68% of the company’s stock.

Equinix Company Profile (Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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