Equinix Inc (EQIX) was Reiterated by Stifel to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 380 from a previous price target of $340 . Stifel advised their investors in a research report released on May 5, 2016.
Many Wall Street Analysts have commented on Equinix Inc. 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 .Barclays Resumed Equinix Inc on Mar 21, 2016 to “Equal Weight”, Price Target of the shares are set at $330.Equinix Inc was Downgraded by JP Morgan to ” Neutral” on Feb 29, 2016.
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 $330.82 and hit $337.12 on the upside on Wednesday, eventually ending the session at $334.83, with a gain of 0.58% or 1.94 points. The heightened volatility saw the trading volume jump to 10,49,764 shares. Company has a market cap of $23,112 M.
In a different news, on Apr 12, 2016, Keith D Taylor (Chief Financial Officer) sold 1,000 shares at $325.64 per share price. According to the SEC, on Apr 6, 2016, Stephen M Smith (CEO & President) sold 4,000 shares at $332.44 per share price. On Mar 11, 2016, Yau Tat Lee (President – Asia Pacific) sold 1,844 shares at $302.58 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.