Equinix (EQIX): New Buy Recommendation for This Technology Giant

In a report released yesterday, Timothy Horan from Oppenheimer assigned a Buy rating to Equinix (EQIX), with a price target of $730.00. The company’s shares closed last Monday at $710.17, close to its 52-week high of $715.75.

According to TipRanks.com, Horan is a top 100 analyst with an average return of 16.4% and a 73.9% success rate. Horan covers the Technology sector, focusing on stocks such as Limelight Networks, GTT Communications, and Boingo Wireless.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Equinix with a $717.09 average price target, a 2.5% upside from current levels. In a report issued on May 19, Citigroup also maintained a Buy rating on the stock with a $754.00 price target.

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Equinix’s market cap is currently $61.75B and has a P/E ratio of 117.60. The company has a Price to Book ratio of 37.81.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQIX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Equinix, Inc. engages in the provision of collocation space and develops data centre solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific. The company was founded on June 22, 1998 and is headquartered in Redwood City, CA.

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