Equinix Inc (EQIX) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 429 from a previous price target of $382 . RBC Capital Mkts advised their investors in a research report released on Aug 8, 2016.
Many Wall Street Analysts have commented on Equinix Inc. Equinix Inc was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Equinix Inc was Initiated by Goldman to “Buy” on Jul 5, 2016. Company shares were Reiterated by Canaccord Genuity on May 23, 2016 to “Buy”, Firm has raised the Price Target to $ 390 from a previous price target of $370 .
On the company’s financial health, Equinix Inc reported $3.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.45 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $3.10. The company had revenue of $900.50 million for the quarter, compared to analysts expectations of $894.28 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS.
Equinix Inc closed down -5.9 points or -1.59% at $365.5 with 6,61,899 shares getting traded on Friday. Post opening the session at $371.95, the shares hit an intraday low of $365.24 and an intraday high of $373.725 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jun 8, 2016, Stephen M Smith (CEO & President) sold 3,621 shares at $368.18 per share price. According to the SEC, on Jun 2, 2016, Keith D Taylor (Chief Financial Officer) sold 5,500 shares at $363.85 per share price. On Jun 2, 2016, Yau Tat Lee (President – Asia Pacific) sold 1,607 shares at $366.62 per share price, according to the Form-4 filing with the securities and exchange commission.
Equinix Inc. is a networking company. The Company provides data center offerings primarily consisting of colocation interconnection solutions and managed IT infrastructure services. The Company’s colocation offerings include Cabinets Power and IBXflex. Cabinets allows customer for colocating networking server and storage equipment. Power is an element of increasing importance in customers’ colocation decisions. IBXflex allows customers to deploy mission-critical operations personnel and equipment on-site at its IBX data centers. The Company’s interconnection solutions enable scalable reliable and cost-effective interconnection and traffic exchange between Equinix customers. The Company offers managed IT infrastructure services such as Equinix Professional Services which offers practical guidance and proven solutions to help customers optimize and future-proof the data center architectures.