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

Equinix (NASDAQ:EQIX - Get Free Report)'s stock had its "market outperform" rating reiterated by equities researchers at JMP Securities in a report released on Friday,Benzinga reports. They presently have a $1,200.00 price target on the financial services provider's stock. JMP Securities' price objective points to a potential upside of 36.59% from the stock's previous close.

EQIX has been the topic of a number of other research reports. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Oppenheimer lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Scotiabank lowered their price target on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 22nd. Mizuho lowered their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research note on Friday, March 28th. Finally, BNP Paribas raised Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $1,004.80.

Equinix Trading Up 0.2%

Shares of NASDAQ EQIX traded up $1.72 during midday trading on Friday, reaching $878.53. 105,401 shares of the stock were exchanged, compared to its average volume of 524,107. The stock has a 50 day moving average price of $828.47 and a 200-day moving average price of $891.08. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $85.94 billion, a P/E ratio of 102.75, a P/E/G ratio of 1.78 and a beta of 0.97. Equinix has a 52-week low of $701.41 and a 52-week high of $994.03.

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

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider now directly owns 1,842 shares of the company's stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Equinix during the 4th quarter valued at about $1,067,270,000. GAMMA Investing LLC grew its holdings in Equinix by 82,340.9% during the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after acquiring an additional 889,282 shares during the last quarter. Nuveen LLC bought a new position in shares of Equinix in the first quarter worth about $662,663,000. Northern Trust Corp raised its position in shares of Equinix by 65.3% during the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after buying an additional 401,991 shares during the period. Institutional investors and hedge funds 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.