Goldman Sachs Thinks Equinix’s Stock is Going to Recover

In a report released today, Brett Feldman from Goldman Sachs maintained a Buy rating on Equinix (EQIXResearch Report), with a price target of $765.00. The company’s shares closed last Monday at $647.31, close to its 52-week low of $606.12.

According to TipRanks.com, Feldman is a 4-star analyst with an average return of 7.8% and a 61.4% success rate. Feldman covers the Technology sector, focusing on stocks such as Starry Group Holdings, Inc. Class A, Altice Usa, and Verizon.

Currently, the analyst consensus on Equinix is a Strong Buy with an average price target of $802.75, implying a 23.5% upside from current levels. In a report issued on June 30, Jefferies also upgraded the stock to Buy with a $790.00 price target.

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The company has a one-year high of $885.26 and a one-year low of $606.12. Currently, Equinix has an average volume of 517K.

Based on the recent corporate insider activity of 80 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.

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