After BMO Capital and Stifel Nicolaus gave Equinix (NASDAQ: EQIX) a Buy rating last month, the company received another Buy, this time from Cowen & Co. Analyst Colby Synesael reiterated a Buy rating on Equinix today and set a price target of $504. The company’s shares closed yesterday at $447.50.
According to TipRanks.com, Synesael is a top 100 analyst with an average return of 17.3% and a 84.8% success rate. Synesael covers the Technology sector, focusing on stocks such as Interxion Holding NV, Cogent Comms, and Crown Castle.
Currently, the analyst consensus on Equinix is a Strong Buy with an average price target of $511.67, a 14.3% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $525 price target.
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Equinix’s market cap is currently $35.56B and has a P/E ratio of 139.41. The company has a Price to Book ratio of 4.98.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock.
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Equinix, Inc. engages in the provision of collocation space and related service. It operates through the following geographical segments: Americas; Europe, Middle East and Africa, and Asia-Pacific. The company was founded on June 22, 1998 and is headquartered in Redwood City, CA.
