ValuEngine Downgrades Equinix (NASDAQ:EQIX) to Strong Sell

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Equinix (NASDAQ:EQIX) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, ValuEngine reports.

Several other equities research analysts have also commented on EQIX. Raymond James upped their price target on shares of Equinix from $560.00 to $625.00 and gave the company a “strong-buy” rating in a report on Thursday, October 31st. BMO Capital Markets reaffirmed a “positive” rating and issued a $665.00 price target on shares of Equinix in a report on Thursday. UBS Group upped their price target on shares of Equinix from $630.00 to $695.00 and gave the company a “buy” rating in a report on Thursday. Nomura upped their price target on shares of Equinix from $575.00 to $625.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Wells Fargo & Co upped their price target on shares of Equinix from $620.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Equinix currently has an average rating of “Buy” and a consensus price target of $613.55.

Shares of EQIX opened at $648.65 on Thursday. The firm has a market capitalization of $52.45 billion, a PE ratio of 109.94, a price-to-earnings-growth ratio of 2.03 and a beta of 0.64. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.55 and a quick ratio of 1.55. Equinix has a 1-year low of $399.57 and a 1-year high of $636.43. The company’s fifty day moving average price is $593.77 and its 200-day moving average price is $565.00.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.10). The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Equinix had a net margin of 9.03% and a return on equity of 5.94%. Equinix’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share. As a group, research analysts anticipate that Equinix will post 20.63 EPS for the current fiscal year.

In other Equinix news, CEO Charles J. Meyers sold 5,562 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $592.53, for a total value of $3,295,651.86. Following the completion of the transaction, the chief executive officer now owns 8,567 shares in the company, valued at $5,076,204.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Karl Strohmeyer sold 6,055 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $592.52, for a total transaction of $3,587,708.60. Following the completion of the transaction, the insider now owns 3,685 shares of the company’s stock, valued at approximately $2,183,436.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,159 shares of company stock valued at $10,149,833. Insiders own 0.49% of the company’s stock.

Several institutional investors have recently modified their holdings of EQIX. Valeo Financial Advisors LLC raised its position in shares of Equinix by 204.8% in the third quarter. Valeo Financial Advisors LLC now owns 128 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 86 shares during the period. Exane Derivatives raised its position in shares of Equinix by 3,536.4% in the third quarter. Exane Derivatives now owns 400 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 389 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Equinix by 48.2% in the third quarter. CIBC Private Wealth Group LLC now owns 102,917 shares of the financial services provider’s stock worth $59,362,000 after acquiring an additional 33,495 shares during the period. Signaturefd LLC raised its position in shares of Equinix by 12.3% in the third quarter. Signaturefd LLC now owns 255 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 28 shares during the period. Finally, Advisor Partners LLC raised its position in shares of Equinix by 12.3% in the third quarter. Advisor Partners LLC now owns 2,065 shares of the financial services provider’s stock worth $1,191,000 after acquiring an additional 226 shares during the period. Institutional investors and hedge funds own 99.37% of the company’s stock.

About Equinix

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Equinix (NASDAQ:EQIX)

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