Citigroup Maintains Equinix Inc to Neutral with Price Target $400.00

Brokerage firm Citigroup Maintains its rating on Equinix Inc(NASDAQ:EQIX). In a research note issued to the investors, the brokerage major Raises the price-target to $400.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Aug 5, 2016.

In a different note, On Aug 4, 2016, Barclays said it Maintains its rating on Equinix Inc. In the research note, the firm Raises the price-target to $360.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Aug 4, 2016, Citigroup said it Maintains its rating on Equinix Inc. In the research note, the firm Raises the price-target to $391.00 per share. The shares have been rated ‘Neutral’ by the firm. SunTrust Robinson Humphrey said it Initiates Coverage on Equinix Inc, according to a research note issued on Jul 21, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 15, 2016, Jefferies said it Downgrades its rating on Equinix Inc. In the research note, the firm Raises the price-target to $380.00 per share. The shares have been rated ‘Hold’ by the firm. Goldman Sachs said it Initiates Coverage on Equinix Inc, according to a research note issued on Jul 5, 2016. The shares have been rated ‘Buy’ by the firm.

Equinix Inc (EQIX) shares turned negative on Wednesdays trading session with the shares closing down -0.08 points or -0.02% at a volume of 5,58,722. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $367.88. The peak price level was also seen at $367.88 while the days lowest was $362.67. Finally the shares closed at $367. The 52-week high of the shares is $391.07 while the 52-week low is $250.86. According to the latest information available, the market cap of the company is $26,084 M.

Equinix Inc has also declared a cash dividend of $1.7500 on Aug 3, 2016. The shares will quote ex-dividend on Aug 22, 2016 and the record date has been fixed on Aug 24, 2016. The dividend payable date has been fixed on Sep 14, 2016.

Equinix Inc(EQIX) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $900.51M. Analysts had an estimated revenue of $893.99M. Earnings per share were $4.13. Analysts had estimated an EPS of $3.64.

Several Insider Transactions has been reported to the SEC. On Jun 8, 2016, Stephen M Smith (CEO & President) sold 3,621 shares at $368.18 per share price.Also, On Jun 2, 2016, Keith D Taylor (Chief Financial Officer) sold 5,500 shares at $363.85 per share price.On Jun 2, 2016, Yau Tat Lee (President – Asia Pacific) sold 1,607 shares at $366.62 per share price, according to the Form-4 filing with the securities and exchange commission.

Equinix Inc. is a networking company. The Company provides data center offerings primarily consisting of colocation interconnection solutions and managed IT infrastructure services. The Company’s colocation offerings include Cabinets Power and IBXflex. Cabinets allows customer for colocating networking server and storage equipment. Power is an element of increasing importance in customers’ colocation decisions. IBXflex allows customers to deploy mission-critical operations personnel and equipment on-site at its IBX data centers. The Company’s interconnection solutions enable scalable reliable and cost-effective interconnection and traffic exchange between Equinix customers. The Company offers managed IT infrastructure services such as Equinix Professional Services which offers practical guidance and proven solutions to help customers optimize and future-proof the data center architectures.

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