Equinix (EQIX) Received its Third Buy in a Row

After Evercore ISI and Barclays gave Equinix (NASDAQ: EQIX) a Buy rating last month, the company received another Buy, this time from RBC Capital. Analyst Jonathan Atkin maintained a Buy rating on Equinix yesterday and set a price target of $840.00. The company’s shares closed last Tuesday at $762.40.

According to TipRanks.com, Atkin is a top 25 analyst with an average return of 17.3% and a 79.7% success rate. Atkin covers the Technology sector, focusing on stocks such as Nextdc Limited, GDS Holdings, and Switch.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Equinix with a $814.94 average price target, implying a 7.4% upside from current levels. In a report issued on March 21, Evercore ISI also maintained a Buy rating on the stock with a $820.00 price target.

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Equinix’s market cap is currently $69.35B and has a P/E ratio of 137.99.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EQIX in relation to earlier this year.

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.

Founded in 1998, Equinix, Inc. is a California-based digital infrastructure company which provides collocation space and develops data center solutions. The company offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.

Read More on EQIX:

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