Goldman Sachs Initiates Coverage on Equinix Inc to Buy

Goldman Sachs Initiates Coverage on Equinix Inc(NASDAQ:EQIX). The shares have been rated Buy. The rating by Goldman Sachs was issued on Jul 5, 2016.

Equinix Inc (EQIX) made into the market gainers list on Fridays trading session with the shares advancing 1.77% or 6.77 points. Due to strong positive momentum, the stock ended at $389.45, which is also near the day’s high of $390.5. The stock began the session at $384.65 and the volume stood at 4,00,017 shares. The 52-week high of the shares is $390.74 and the 52 week low is $250.86. The company has a current market capitalization of $27,039 M and it has 6,94,27,936 shares in outstanding.

Equinix Inc(EQIX) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $844.16M. Analysts had an estimated revenue of $835.18M. Earnings per share were $2.98. Analysts had estimated an EPS of $3.35.

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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