Equinix Inc (EQIX) is Reiterated by Canaccord Genuity to Buy, Raises Price Target to $ 420

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 $ 420 from a previous price target of $390 . Canaccord Genuity advised their investors in a research report released on Aug 12, 2016.

Many Wall Street Analysts have commented on Equinix Inc. Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 429 from a previous price target of $382 .Equinix Inc was Downgraded by Jefferies to ” Hold” on Jul 15, 2016. Equinix Inc was Initiated by Goldman to “Buy” on Jul 5, 2016.

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 -1.2 points or -0.33% at $364.3 with 7,13,394 shares getting traded on Monday. Post opening the session at $364.9, the shares hit an intraday low of $361.22 and an intraday high of $365.47 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Aug 9, 2016, Eric Schwartz (President, Equinix Europe) sold 3,658 shares at $363.14 per share price. According to the SEC, on Aug 9, 2016, Charles J Meyers (Chief Operating Officer) sold 200 shares at $364.90 per share price. On Jun 8, 2016, Stephen M Smith (CEO & President) sold 3,621 shares at $368.18 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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