Equinix (NASDAQ:EQIX) Posts Earnings Results, Beats Estimates By $5.17 EPS

Equinix (NASDAQ:EQIX) released its quarterly earnings results on Wednesday. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17, Zacks reports. Equinix had a return on equity of 8.34% and a net margin of 12.29%.

Equinix Stock Down 0.9 %

Equinix stock traded down $8.44 during midday trading on Wednesday, hitting $935.20. The stock had a trading volume of 514,298 shares, compared to its average volume of 486,069. The business has a fifty day moving average price of $937.53 and a 200 day moving average price of $894.48. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The stock has a market cap of $90.24 billion, a P/E ratio of 84.33, a P/E/G ratio of 2.23 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Analyst Ratings Changes

Several analysts have recently commented on EQIX shares. TD Cowen increased their price target on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus boosted their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company decreased their price objective on Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Scotiabank upped their target price on shares of Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a report on Thursday, January 23rd. Finally, BMO Capital Markets boosted their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $996.06.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the sale, the director now owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is currently owned by corporate insiders.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.