Barclays Releases a Hold Rating on Equinix

By Carrie Williams

In a report released yesterday, Amir Rozwadowski from Barclays maintained a Hold rating on Equinix (NASDAQ: EQIX), with a price target of $410. The company’s shares opened today at $405.41.

According to TipRanks.com, Rozwadowski is a 5-star analyst with an average return of 22.1% and a 72.8% success rate. Rozwadowski covers the Technology sector, focusing on stocks such as Zayo Group Holdings, CommScope Holding, and America Movil.

Currently, the analyst consensus on Equinix is Strong Buy and the average price target is $422.29, representing a 4.2% upside.

In a report issued on April 17, Jefferies also reiterated a Hold rating on the stock with a $378 price target.

Based on Equinix’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $943 million and quarterly net profit of $63.64 million. In comparison, last year the company earned revenue of $844 million and had a GAAP net loss of $31.11 million.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EQIX in relation to earlier this year. Most recently, in February 2017, Scott Kriens, a Director at EQIX bought 10,592 shares for a total of $897,142.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Equinix, Inc. engages in the provision of collocation space and related service. It operates through the following geographical segments: Americas; Europe, Middle East and Africa, and Asia-Pacific. Its services include interconnection and connectivity, data centers and collocation, professional services, and Equinix Marketplace. It offers applications and content acceleration, cloud infrastructure solutions, wide area network optimization, and disaster recovery and business continuity solutions. The company was founded by Jay Steven Adelson and Albert M. Avery IV on June 22, 1998 and is headquartered in Redwood City, CA.