Credit Suisse Group Reaffirms Buy Rating for Equinix (NASDAQ:EQIX)

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Credit Suisse Group reissued their buy rating on shares of Equinix (NASDAQ:EQIX) in a report released on Wednesday morning, TipRanks reports. Credit Suisse Group currently has a $581.00 target price on the financial services provider’s stock.

EQIX has been the subject of a number of other reports. Stifel Nicolaus reiterated a buy rating and issued a $620.00 price objective on shares of Equinix in a report on Thursday, November 14th. ValuEngine cut Equinix from a buy rating to a hold rating in a report on Wednesday, October 2nd. BidaskClub downgraded Equinix from a buy rating to a hold rating in a research report on Saturday, November 30th. Wells Fargo & Co reaffirmed an outperform rating and issued a $620.00 target price (up previously from $545.00) on shares of Equinix in a research note on Thursday, October 31st. Finally, BMO Capital Markets increased their price target on shares of Equinix to $610.00 and gave the company a positive rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $564.40.

NASDAQ EQIX opened at $559.19 on Wednesday. Equinix has a 52-week low of $335.29 and a 52-week high of $609.97. The company has a fifty day moving average of $557.26 and a 200-day moving average of $536.77. The company has a market capitalization of $45.22 billion, a P/E ratio of 27.03, a P/E/G ratio of 2.06 and a beta of 0.66. 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 released its earnings results on Wednesday, October 30th. The financial services provider reported $1.41 EPS for the quarter, missing the Zacks’ consensus estimate of $4.96 by ($3.55). Equinix had a net margin of 9.03% and a return on equity of 5.94%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, analysts forecast that Equinix will post 20.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 20th will be given a $2.46 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $9.84 annualized dividend and a yield of 1.76%. Equinix’s payout ratio is currently 47.56%.

In other news, insider Brandi Galvin Morandi sold 589 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $560.67, for a total transaction of $330,234.63. Following the completion of the transaction, the insider now directly owns 15,904 shares of the company’s stock, valued at $8,916,895.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sara Baack sold 250 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $565.33, for a total transaction of $141,332.50. Following the sale, the insider now owns 8,172 shares of the company’s stock, valued at $4,619,876.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,289 shares of company stock valued at $724,228. Insiders own 0.49% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC bought a new stake in Equinix in the second quarter valued at $26,000. Meeder Asset Management Inc. purchased a new stake in Equinix in the second quarter worth about $26,000. Tarbox Family Office Inc. boosted its position in Equinix by 181.3% during the 3rd quarter. Tarbox Family Office Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 29 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Equinix during the 2nd quarter worth approximately $29,000. Finally, Berman Capital Advisors LLC grew its holdings in shares of Equinix by 44.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 22 shares during the period. 98.90% of the stock is owned by institutional investors and hedge funds.

Equinix Company Profile

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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