Equinix (EQIX) Receives a Buy from Oppenheimer

In a report released yesterday, Timothy Horan from Oppenheimer assigned a Buy rating to Equinix (EQIX), with a price target of $820.00. The company’s shares closed last Wednesday at $756.07.

According to TipRanks.com, Horan is a top 100 analyst with an average return of 16.6% and a 70.2% success rate. Horan covers the Technology sector, focusing on stocks such as Lumen Technologies, Limelight Networks, and GTT Communications.

Equinix has an analyst consensus of Strong Buy, with a price target consensus of $839.00, a 9.9% upside from current levels. In a report issued on October 16, Jefferies also maintained a Buy rating on the stock with a $879.00 price target.

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Based on Equinix’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.47 billion and net profit of $133 million. In comparison, last year the company earned revenue of $1.38 billion and had a net profit of $144 million.

Based on the recent corporate insider activity of 80 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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