JMP Securities Reaffirms “Market Outperform” Rating for Equinix (NASDAQ:EQIX)

Equinix (NASDAQ:EQIX)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report issued on Thursday,Benzinga reports. They currently have a $1,200.00 price objective on the financial services provider’s stock. JMP Securities’ price target would indicate a potential upside of 37.01% from the stock’s previous close.

EQIX has been the subject of a number of other reports. TD Securities lifted their price objective on Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research report on Thursday. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Barclays upped their target price on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. BMO Capital Markets reduced their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Finally, Cfra Research upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $1,004.05.

Equinix Price Performance

Shares of EQIX stock opened at $875.85 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s fifty day simple moving average is $828.81 and its 200 day simple moving average is $894.55. Equinix has a one year low of $684.14 and a one year high of $994.03. The firm has a market cap of $85.67 billion, a price-to-earnings ratio of 102.44, a P/E/G ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping the consensus estimate of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.86 EPS. On average, analysts expect that Equinix will post 33.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 215 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the sale, the insider now directly owns 1,245 shares of the company’s stock, valued at $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pinney & Scofield Inc. acquired a new stake in Equinix during the fourth quarter worth approximately $28,000. Kestra Investment Management LLC acquired a new stake in Equinix during the 4th quarter worth approximately $31,000. Pacific Center for Financial Services boosted its stake in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares during the period. Whipplewood Advisors LLC grew its holdings in Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after buying an additional 23 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new position in Equinix during the 4th quarter worth $39,000. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.