In a report issued on July 29, Jonathan Petersen from Jefferies reiterated a Buy rating on Equinix (EQIX), with a price target of $824.00. The company’s shares closed last Monday at $782.74, close to its 52-week high of $805.81.
According to TipRanks.com, Petersen is a 5-star analyst with an average return of 9.5% and a 71.1% success rate. Petersen covers the Financial sector, focusing on stocks such as Apartment Investment & Management, National Retail Properties, and Mid-America Apartment.
Equinix has an analyst consensus of Strong Buy, with a price target consensus of $814.79, which is a 2.1% upside from current levels. In a report issued on July 14, Edward Jones also initiated coverage with a Buy rating on the stock.
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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 72 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.
