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

Equinix (NASDAQ:EQIX - Get Free Report)'s stock had its "market outperform" rating reissued by equities researchers at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $1,200.00 target price on the financial services provider's stock. JMP Securities' price target indicates a potential upside of 59.82% from the company's current price.

Other analysts have also recently issued reports about the stock. Bank of America lowered their target price on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research note on Thursday. Scotiabank decreased their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a report on Thursday. Citigroup boosted their price objective on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. Cowen reissued a "buy" rating on shares of Equinix in a research report on Thursday, May 1st. Finally, New Street Research upgraded Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and six have assigned a strong buy rating to the company. According to data from MarketBeat.com, Equinix has an average rating of "Buy" and an average target price of $986.30.

Equinix Stock Down 8.9%

Shares of EQIX stock traded down $73.48 during trading hours on Thursday, reaching $750.83. 1,195,134 shares of the company's stock were exchanged, compared to its average volume of 608,520. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The stock's 50 day moving average is $868.26 and its 200-day moving average is $883.95. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The company has a market cap of $73.45 billion, a price-to-earnings ratio of 77.66, a P/E/G ratio of 1.18 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the business earned $8.86 EPS. The firm's revenue for the quarter was up 4.1% on a year-over-year basis. Analysts predict that Equinix will post 33.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director now owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider now directly owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,176 shares of company stock valued at $2,808,008. Corporate insiders own 0.27% of the company's stock.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently modified their holdings of the stock. Pinney & Scofield Inc. acquired a new stake in Equinix in the 4th quarter worth about $28,000. Activest Wealth Management lifted its position in shares of Equinix by 121.4% in the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 17 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new stake in shares of Equinix in the first quarter worth approximately $30,000. Pacific Center for Financial Services boosted its stake in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after acquiring an additional 15 shares during the last quarter. Finally, Saudi Central Bank purchased a new stake in shares of Equinix during the first quarter worth approximately $31,000. Hedge funds and other institutional investors 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.

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