Equities research analysts at Morgan Joseph boosted their price target on shares of Equinix, Inc. (NASDAQ: EQIX) from $110.00 to $125.00 in a research note to investors on Wednesday. The analysts currently have a "buy" rating on the stock.
Separately, analysts at Goldman Sachs (NYSE: GS) reiterated a "neutral" rating on shares of Equinix, Inc. in a research note to investors on Wednesday, May 11st. They now have a $99.00 price target on the stock. Also, analysts at Wells Fargo & Co. (NYSE: WFC) upgraded shares of Equinix, Inc. from a "market perform" rating to an "outperform" rating in a research note to investors on Friday, May 6th.
Shares of Equinix, Inc. traded up 1.35% during mid-day trading on Thursday, hitting $102.69. Equinix, Inc. has a 52 week low of $69.42 and a 52 week high of $105.09. The stock's 50-day moving average is $99.40 and its 200-day moving average is $92.34. The company has a market cap of $4.807 billion and a price-to-earnings ratio of 99.04.
Equinix, Inc. last announced its quarterly results on Wednesday, April 27th. The company reported $0.53 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.30 EPS by $0.23. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 46.00% on a year-over-year basis. On average, analysts predict that Equinix, Inc. will post $0.53 EPS next quarter.
Equinix, Inc. (Equinix) provides global network neutral data center services. The Company operates 49 International Business Exchange (IBX) centers, or IBX data centers, across 18 markets in North America, Europe and Asia-Pacific where customers directly interconnect with a networked ecosystem of partners and customers. More than 360 network service providers offer access to more than 90% of the world’s Internet routes inside the Company’s IBX data centers. Equinix services are primarily enabled through a global service delivery platform comprised of all 49 IBX data centers for colocation, interconnection and managed information technology (IT) infrastructure services. Colocation services include cabinets, power, operations space and storage space for customers’ colocation needs. Interconnection services include cross connects, as well as switch ports on the Equinix Exchange service. Managed IT infrastructure services allow customers to leverage Equinix’s telecommunications.
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