Equinix Inc. (NASDAQ: EQIX) Upgraded by Wells Fargo to Outperform
Friday, May 06, 2022 1:00 PM

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Wells Fargo upgraded Equinix Inc. (NASDAQ: EQIX) to Outperform from Market Perform citing confidence in the U.S. pricing environment and strong international trends. The firm raised its target range for shares to $119-$127 from $109-$118.

Reported revenue was $363 million in the first quarter of 2011, a 5 percent increase over the previous quarter, and a 46 percent increase over the same quarter last year. Adjusted EBITDA was $167.3 million, a 12 percent increase over the previous quarter and a 43 percent increase over the same quarter last year.

Shares last traded at $99.19, up 1.82 percent on Thursday. EQIX has a 52-week low of $69.42 and a 52-week high of $107.44. The company has a total market cap of $4.65 billion. The price to earnings ratio of the company is 79.26, and the PEG ratio is 1.54.

Equinix Inc. provides network neutral data center services to enterprises, content providers, financial services companies, and network service providers. The company markets its products and services through direct sales force and channel marketing program. Equinix was founded in 1998 and is based in Foster City, California.
 

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