Equinix (NASDAQ: EQIX) upgraded to buy from Zacks Investment Research

Equinix (NASDAQ: EQIX) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note published on Tuesday 3 July The brokerage firm currently has a price target of $ 480.00 on the stock of the financial services provider. The target price of Zacks Investment Research would suggest a upside potential of 8.30% of the current price of the

Equinix shares outperformed those of the industry over the past year and the trend of estimated revisions to operating funds (FFO) per share for the year ended. The current exercise indicates an impressive prospect for the company. plans to make available to Australia Singapore Cable its data centers of the International Business Exchange (IBX) in six subways of Australia and Singapore. The underwater cable network will offer cost advantages and latency In fact, its diligent IBX expansion strategy will likely strengthen its global footprint in the data center space and bring additional revenue in the long run. In addition, the company's recurring revenue model and current plans for expansion are encouraging. Nevertheless, we are concerned about the growing burden of corporate debt, which will negatively impact operating results as interest costs will increase.

A number of other analysts have also recently weighed on the stock.ValuEngine downgraded equinix shares from a "hold" rating to a "sell" grade in a report on Thursday, May 3. BidaskClub has updated Equinix shares from a "sell" rating to a "hold" rating in a research note on Tuesday, June 19. Credit Suisse Group has set a target price of $ 525.00 on Equinix shares and awarded the title a "buy" rating in a research note on Thursday, May 3. Moffett Nathanson began to hedge Equinix shares in a research note on Monday, April 9. They issued a note "buy" and a price target of $ 515.00 on the stock.Finally, Cowen lowered its price target on Equinix shares of 546 , $ 00 to $ 494.00 and established an "outperformance" rating on the stock in a research note on Thursday, June 21. An Equity Research Analyst read the title with a sales note, four assigned a reserve rating and eighteen issued a purchase note for the company's shares. Equinix currently has a consensus rating of "Buy" and an average target price of $ 509.76

Equinix shares traded $ 8.00, reaching $ 443.20, during trading on Tuesday, Marketbeat Ratings reports. 594,793 shares of the company traded hands, compared to its average volume of 433,369. The company has a market capitalization of $ 35.22 billion, a venture capital ratio of 23.92, a price-earnings-to-growth ratio of 1.46 and a beta of 0.46. Equinix has a minimum of $ 370.79 in one year and $ 495.35 in one year. The company has a ratio of 2.36, a ratio of 2.36 and a debt ratio of 1.53.

Equinix (NASDAQ: EQIX) last announced its quarterly results on Wednesday, May 2nd. The financial services provider reported earnings per share of $ 0.79 for the quarter, with analysts' consensus setting at $ 3.70 ($ 2.91). Equinix recorded a net margin of 5.48% and a return on equity of 7.00%. The company achieved a turnover of $ 1.22 billion for the quarter, compared to analysts' estimates of $ 1.21 billion. During the same quarter last year, the company posted earnings per share of $ 4.14. Equinix 's sales figure rose 28.1% from one year to the next. Analysts predict that Equinix will post earnings per share of 18.86 for the current fiscal year.

Incidentally, insider Yau Tat Lee sold 5,960 shares of the company during a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $ 402.69, for a total transaction of $ 2,400,032.40. As a result of the closing of the sale, the insider now holds directly 6,718 shares of the company, valued at $ 2,705,271.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be viewed on the SEC's website. In addition, Michael Earl Campbell, an insider, sold 250 shares of the company during a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $ 443.14, for a total value of $ 110,785.00. As a result of the sale, the insider now owns 1,677 shares of the company, valued at $ 743,145.78. The disclosure for this sale can be found here. Insiders sold 11,010 shares valued at $ 4,466,691 in the last 90 days. Insiders of the company own 0.51% of the shares of the company.

A number of major investors have recently changed their holdings of the company. Reliance Trust Co. of Delaware raised its equity stake in Equinix by 8.1% in the second quarter. Reliance Trust Co. of Delaware now holds 1,662 shares of the company's financial services provider worth $ 715,000 after the acquisition of 124 additional shares during the last quarter. Checchi Capital Advisers LLC lifted its equity stake in Equinix by 14.9% in the first quarter. Checchi Capital Advisers LLC now holds 964 shares of the $ 403,000 financial services provider after acquiring 125 additional shares in the last quarter. Candriam Luxembourg S.C. raised its equity stake in Equinix by 2.3% in the first quarter. Candriam Luxembourg S.C.A. now holds 5,989 shares in the financial services provider worth $ 2,504,000 after acquiring 137 additional shares in the last quarter. Mason Street Advisors LLC increased its holdings in Equinix by 1.3% in the first quarter. Mason Street Advisors LLC now holds 11,036 shares of the financial services provider valued at $ 4,615,000 after purchasing 139 additional shares in the last quarter. Finally, LS Investment Advisors LLC increased its equity holdings in Equinix by 7.5% in the first quarter. LS Investment Advisors LLC now holds 2,044 shares of the financial services provider's business valued at $ 855,000 after purchasing 142 additional shares in the last quarter. Institutional investors hold 97.35% of the shares of the company.

About Equinix

Equinix, Inc. (Nasdaq: EQIX) connects the world's leading companies to their customers, employees and partners in the most interconnected data centers. In 48 markets across five continents, Equinix is ​​the place where companies come together to create new opportunities and accelerate their business, computing and cloud computing strategies

Recommended History: Trading Penny Stocks

Zacks Research Report on Equinix (EQIX)

For more information on Zacks Investment Research's research offerings, visit Zacks.com

Receive news and ratings of Equinix Daily – Enter your email address below to receive a free quote Concise daily summary of the latest news and analyst ratings for Equinix and Affiliates with FREE Daily E-mail from MarketBeat.com newsletter.