Equinix Inc (EQIX) is Reiterated by Canaccord Genuity to Buy, Raises Price Target to $ 390

Equinix Inc (EQIX) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 390 from a previous price target of $370 . Canaccord Genuity advised their investors in a research report released on May 23, 2016.

Many Wall Street Analysts have commented on Equinix Inc. Company shares were Reiterated by Stifel on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 380 from a previous price target of $340 .Company shares were Reiterated by Barclays on May 5, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 340 from a previous price target of $335 .Company shares were Reiterated by Canaccord Genuity on Apr 7, 2016 to “Buy”, Firm has raised the Price Target to $ 370 from a previous price target of $320 .

On the company’s financial health, Equinix Inc reported $2.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.97 according to the earnings call on Feb 18, 2016. Analyst had a consensus of $1.17. The company had revenue of $730.50 million for the quarter, compared to analysts expectations of $715.52 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS.

Equinix Inc opened for trading at $344.28 and hit $346.41 on the upside on Friday, eventually ending the session at $345, with a gain of 0.57% or 1.95 points. The heightened volatility saw the trading volume jump to 5,35,366 shares. Company has a market cap of $23,953,005 M.

In a different news, on May 11, 2016, Irving F Iii Lyons (director) sold 8,000 shares at $341.71 per share price. According to the SEC, on May 11, 2016, Camp Peter Van (director) sold 3,426 shares at $340.25 per share price. On May 6, 2016, Stephen M Smith (CEO & President) sold 4,000 shares at $333.78 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.

Equinix Inc

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