Equinix (NASDAQ:EQIX) Price Target Increased to $710.00 by Analysts at Citigroup

Equinix (NASDAQ:EQIX) had its target price boosted by Citigroup from $652.00 to $710.00 in a research note published on Thursday, The Fly reports. Citigroup currently has a buy rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reiterated a positive rating and set a $665.00 price objective on shares of Equinix in a research report on Thursday. Oppenheimer lifted their price objective on Equinix from $550.00 to $650.00 and gave the stock an outperform rating in a research report on Thursday, October 31st. Wells Fargo & Co lifted their price objective on Equinix from $620.00 to $675.00 and gave the stock an overweight rating in a research report on Thursday. FBN Securities lifted their price objective on Equinix from $550.00 to $625.00 and gave the stock an outperform rating in a research report on Monday, November 4th. Finally, SunTrust Banks lifted their price objective on Equinix from $560.00 to $680.00 and gave the stock a buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Equinix has a consensus rating of Buy and an average price target of $613.55.

Equinix stock traded up $12.90 during midday trading on Thursday, reaching $648.65. 438,565 shares of the company were exchanged, compared to its average volume of 376,300. The company has a market capitalization of $49.49 billion, a price-to-earnings ratio of 109.94, a P/E/G ratio of 2.03 and a beta of 0.64. The firm’s 50-day simple moving average is $593.77 and its 200-day simple moving average is $565.00. Equinix has a 1 year low of $399.57 and a 1 year high of $636.43. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.55 and a current ratio of 1.55.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.10). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Equinix had a return on equity of 5.94% and a net margin of 9.03%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.36 EPS. On average, analysts forecast that Equinix will post 20.63 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 26th will be issued a $2.66 dividend. This is a boost from Equinix’s previous quarterly dividend of $2.46. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $10.64 annualized dividend and a yield of 1.64%. Equinix’s payout ratio is 47.56%.

In other Equinix news, insider Sara Baack sold 250 shares of Equinix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $564.81, for a total value of $141,202.50. Following the completion of the sale, the insider now owns 7,922 shares in the company, valued at approximately $4,474,424.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 200 shares of Equinix stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $557.29, for a total value of $111,458.00. The disclosure for this sale can be found here. Insiders sold a total of 17,159 shares of company stock valued at $10,149,833 in the last 90 days. 0.49% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its stake in shares of Equinix by 3.0% in the 4th quarter. Cohen & Steers Inc. now owns 3,579,546 shares of the financial services provider’s stock valued at $2,089,381,000 after purchasing an additional 104,934 shares in the last quarter. State Street Corp lifted its stake in shares of Equinix by 0.4% in the 4th quarter. State Street Corp now owns 3,488,459 shares of the financial services provider’s stock valued at $2,036,214,000 after purchasing an additional 14,683 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Equinix by 9.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,137,970 shares of the financial services provider’s stock valued at $664,233,000 after purchasing an additional 102,297 shares in the last quarter. Pictet Asset Management Ltd. lifted its stake in shares of Equinix by 8.5% in the 4th quarter. Pictet Asset Management Ltd. now owns 824,041 shares of the financial services provider’s stock valued at $480,993,000 after purchasing an additional 64,331 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Equinix by 1.2% in the 4th quarter. Franklin Resources Inc. now owns 497,257 shares of the financial services provider’s stock valued at $290,249,000 after purchasing an additional 5,750 shares in the last quarter. 99.37% of the stock is currently owned by institutional investors and hedge funds.

About Equinix

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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