New Buy Rating for Equinix (EQIX), the Financial Giant

In a report released yesterday, Matthew Niknam from Deutsche Bank reiterated a Buy rating on Equinix (EQIXResearch Report), with a price target of $785.00. The company’s shares closed last Thursday at $716.04.

According to TipRanks.com, Niknam is a 4-star analyst with an average return of 7.9% and a 66.4% success rate. Niknam covers the Technology sector, focusing on stocks such as Zoom Video Communications, Keysight Technologies, and KORE Group Holdings.

Equinix has an analyst consensus of Moderate Buy, with a price target consensus of $818.24, implying an 11.2% upside from current levels. In a report issued on April 27, Barclays also maintained a Buy rating on the stock with a $823.00 price target.

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Equinix’s market cap is currently $66.63B and has a P/E ratio of 135.16.

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.

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