Zacks reaffirmed their neutral rating on shares of Equinix (NASDAQ:EQIX) in a research note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. The firm currently has a $189.00 price target on the stock.
Zacks’ analyst wrote, “Equinix reported second-quarter 2013 earnings ahead of the Zacks Consensus Estimate. Total revenue for Equinix improved on a year-over-year basis as the companies witnessed revenue growth across geographies and revenue segments. The company provided decent fiscal year and third-quarter 2013 guidance. Demand for Equinix’ data centers are growing, which is attracting new clients. Equinix has also gained from its recent acquisitions. The recurring revenue model is working well for the company and providing enough revenue support. On the other hand, the company must work to reduce its debt level although it has cleared a considerable amount of debt in the reported quarter. In spite of all the positives, competitive threats from the likes of AT&T Inc. raise our apprehension. European exposure and industry consolidation are the other headwinds. Equinix has a Neutral recommendation.”
EQIX has been the subject of a number of other recent research reports. Analysts at RBC Capital cut their price target on shares of Equinix from $250.00 to $240.00 in a research note to investors on Friday, July 26th. They now have an outperform rating on the stock. Separately, analysts at Pacific Crest cut their price target on shares of Equinix from $240.00 to $224.00 in a research note to investors on Friday, July 26th. They now have an outperform rating on the stock. Finally, analysts at FBN Securities cut their price target on shares of Equinix from $250.00 to $230.00 in a research note to investors on Friday, July 26th. They now have an outperform rating on the stock.
One research analyst has rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Equinix presently has a consensus rating of Buy and a consensus target price of $231.41.
Shares of Equinix (NASDAQ:EQIX) opened at 179.35 on Tuesday. Equinix has a one year low of $170.71 and a one year high of $231.56. The stock’s 50-day moving average is currently $188.6. The company has a market cap of $8.856 billion and a P/E ratio of 108.30.
Equinix, Inc (NASDAQ:EQIX) connects businesses with partners and customers worldwide through a global platform of data centers.
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