Equinix (NASDAQ:EQIX) Upgraded at Wall Street Zen

Equinix (NASDAQ:EQIX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other analysts also recently issued research reports about the company. TD Cowen reiterated a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Sanford C. Bernstein began coverage on Equinix in a research note on Thursday, March 5th. They issued an “outperform” rating and a $1,128.00 target price for the company. Stifel Nicolaus set a $1,075.00 target price on Equinix in a research report on Thursday, February 12th. UBS Group lifted their price target on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and a consensus target price of $1,015.05.

Equinix Stock Performance

NASDAQ:EQIX opened at $963.00 on Friday. The firm’s 50-day moving average is $907.50 and its 200-day moving average is $826.99. The company has a market cap of $94.61 billion, a price-to-earnings ratio of 70.04, a PEG ratio of 2.48 and a beta of 1.04. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. Equinix has a 52-week low of $701.41 and a 52-week high of $992.90.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the business posted $7.92 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Equinix will post 33.1 earnings per share for the current year.

Insiders Place Their Bets

In other Equinix news, EVP Raouf Abdel sold 584 shares of Equinix stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the transaction, the executive vice president directly owned 7,768 shares of the company’s stock, valued at approximately $7,501,479.92. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 630 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $961.19, for a total transaction of $605,549.70. Following the completion of the sale, the insider directly owned 10,394 shares in the company, valued at approximately $9,990,608.86. The trade was a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,842 shares of company stock worth $14,494,840 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several institutional investors have recently added to or reduced their stakes in EQIX. Ameriflex Group Inc. increased its holdings in shares of Equinix by 433.3% during the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after buying an additional 26 shares in the last quarter. Abound Wealth Management boosted its holdings in shares of Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in Equinix during the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC grew its position in Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 28 shares during the last quarter. Finally, WPG Advisers LLC increased its holdings in Equinix by 51.7% during the 4th quarter. WPG Advisers LLC now owns 44 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 15 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.