The stock of Equinix Inc (NASDAQ:EQIX) is a huge mover today! The stock increased 0.08% or $0.3 during the last trading session, hitting $360.25. About 4,924 shares traded hands. Equinix Inc (NASDAQ:EQIX) has risen 12.38% since March 3, 2016 and is uptrending. It has outperformed by 4.03% the S&P500.
The move comes after 5 months positive chart setup for the $25.60B company. It was reported on Oct, 6 by Barchart.com. We have $493.54 PT which if reached, will make NASDAQ:EQIX worth $9.47 billion more.
Analysts await Equinix Inc (NASDAQ:EQIX) to report earnings on October, 26. They expect $3.40 EPS, down 4.23% or $0.15 from last year’s $3.55 per share. EQIX’s profit will be $241.61M for 26.49 P/E if the $3.40 EPS becomes a reality. After $4.13 actual EPS reported by Equinix Inc for the previous quarter, Wall Street now forecasts -17.68% negative EPS growth.
Equinix Inc (NASDAQ:EQIX) Ratings Coverage
Out of 13 analysts covering Equinix (NASDAQ:EQIX), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. Equinix has been the topic of 22 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained Equinix Inc (NASDAQ:EQIX) on Friday, August 12 with “Buy” rating. Suntrust Robinson initiated Equinix Inc (NASDAQ:EQIX) on Tuesday, November 24 with “Buy” rating. The firm has “Buy” rating given on Tuesday, November 24 by SunTrust. RBC Capital Markets maintained Equinix Inc (NASDAQ:EQIX) on Tuesday, July 28 with “Outperform” rating. The rating was downgraded by Jefferies to “Hold” on Friday, July 15. Stifel Nicolaus upgraded the stock to “Buy” rating in Tuesday, January 5 report. The firm has “Outperform” rating given on Friday, February 19 by Cowen & Co. The firm has “Perform” rating by Oppenheimer given on Monday, March 14. Canaccord Genuity maintained Equinix Inc (NASDAQ:EQIX) rating on Monday, May 23. Canaccord Genuity has “Buy” rating and $390 price target. The stock has “Equal-Weight” rating given by Barclays Capital on Monday, March 21.
According to Zacks Investment Research, “Equinix designs, builds and operates neutral Internet Business Exchange centers where Internet businesses place their equipment and their network facilities in order to interconnect with each other. The neutral IBX centers provide content providers, application service providers and e- commerce companies with the ability to directly interconnect with a competitive choice of bandwidth providers, Internet service providers and site and performance management companies.”
Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.71, from 1.84 in 2016Q1. The ratio turned negative, as 39 funds sold all Equinix Inc shares owned while 153 reduced positions. 55 funds bought stakes while 162 increased positions. They now own 69.54 million shares or 4.14% less from 72.54 million shares in 2016Q1.
Gagnon Securities Limited Company last reported 32,165 shares in the company. The New York-based Cohen Steers has invested 3.89% in Equinix Inc (NASDAQ:EQIX). Daiwa Secs Group Inc, a Japan-based fund reported 1.95 million shares. Smith Asset Group Limited Partnership owns 17,490 shares or 0.2% of their US portfolio. Rainier Invest Management Ltd Liability Com has 77,040 shares for 1.44% of their US portfolio. Baldwin Brothers Ma owns 84 shares or 0.01% of their US portfolio. Euclid Advsr Limited Liability Co has 0.15% invested in the company for 8,748 shares. Oakbrook Invests Limited Liability has 0.08% invested in the company for 3,836 shares. Moreover, Nomura Asset has 0.05% invested in Equinix Inc (NASDAQ:EQIX) for 7,564 shares. Clinton Gru has invested 0.02% of its portfolio in Equinix Inc (NASDAQ:EQIX). Tiverton Asset Management Ltd Llc holds 179,438 shares or 0.26% of its portfolio. Magee Thomson Inv Prtnrs Limited Company holds 25,250 shares or 3.42% of its portfolio. Proshare Advsrs Ltd Liability Com has 24,111 shares for 0.12% of their US portfolio. Fir Tree last reported 552,387 shares in the company. Texas Permanent School Fund has 0.12% invested in the company for 22,526 shares.
Insider Transactions: Since April 8, 2016, the stock had 0 buys, and 21 insider sales for $16.58 million net activity. The insider Schwartz Eric sold $1.33 million. Another trade for 740 shares valued at $273,487 was made by Campbell Michael Earl on Thursday, September 1. The insider TAYLOR KEITH D sold $906,017. Meyers Charles J had sold 200 shares worth $72,126. Shares for $2.73 million were sold by LYONS IRVING F III on Monday, May 9. 3,426 shares were sold by VAN CAMP PETER, worth $1.17 million on Monday, May 9. $1.34 million worth of shares were sold by Smith Stephen M on Wednesday, May 4.
EQIX Company Profile
Equinix, Inc. (Equinix), incorporated on June 22, 1998, is engaged in connecting companies to their clients and partners inside the interconnected data centers. The Firm operates in three divisions: Americas; Europe, the Middle East and Africa (EMEA), and Asia-Pacific. The Company’s platform Equinix combines a footprint of International Business Exchange (IBX) data centers, interconnection opportunities and ecosystems. The Firm provides data center offerings, which consist of colocation, interconnection solutions, and managed Information Technology (IT) infrastructure and professional services. The Company’s Colocation offerings include cabinets, power and IBXflex. The Company’s Interconnection offerings include Physical Cross Connect/Direct Interconnections, Equinix Internet Exchange, Equinix Metro Connect, Internet Connectivity Services, Equinix Cloud Exchange and Equinix Performance Hub. The Company’s Equinix Professional Services include Cloud Consulting Services, Global Solutions Architects, Solution Validation Centers, Smart Hands Services, Equinix Customer Portal and Business Continuity Trading Rooms.
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