Cantor Fitzgerald Begins Coverage on Equinix (NASDAQ:EQIX)

Cantor Fitzgerald began coverage on shares of Equinix (NASDAQ:EQIX) in a research note issued to investors on Thursday,Benzinga reports. The brokerage set an “overweight” rating and a $1,173.00 price target on the financial services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 15.26% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company boosted their target price on Equinix from $925.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 target price on Equinix in a report on Thursday, February 12th. Citigroup reissued a “buy” rating on shares of Equinix in a report on Thursday, February 12th. HSBC set a $1,050.00 target price on Equinix and gave the stock a “buy” rating in a report on Thursday, January 15th. Finally, TD Cowen reissued a “buy” rating on shares of Equinix in a report on Thursday, February 12th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,025.96.

Equinix Stock Performance

EQIX opened at $1,017.66 on Thursday. The business’s 50 day moving average is $939.19 and its 200-day moving average is $839.14. The stock has a market cap of $99.99 billion, a PE ratio of 74.01, a price-to-earnings-growth ratio of 2.57 and a beta of 1.01. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix has a twelve month low of $701.41 and a twelve month high of $1,023.47.

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

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,670 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.08, for a total value of $2,146,893.60. Following the transaction, the chief executive officer owned 14,857 shares in the company, valued at approximately $11,946,216.56. The trade was a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the transaction, the executive vice president owned 7,337 shares in the company, valued at approximately $5,882,659.86. This trade represents a 11.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,842 shares of company stock valued at $14,494,840 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

Several large investors have recently added to or reduced their stakes in EQIX. Brighton Jones LLC raised its stake in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 73 shares during the period. Integrated Wealth Concepts LLC raised its stake in Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 54 shares during the period. Empowered Funds LLC raised its stake in Equinix by 21.8% during the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock valued at $2,487,000 after purchasing an additional 546 shares during the period. Schnieders Capital Management LLC. acquired a new stake in Equinix during the 2nd quarter valued at $231,000. Finally, Brown Advisory Inc. raised its stake in Equinix by 2.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider’s stock valued at $854,000 after purchasing an additional 29 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

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.