Stifel Nicolaus Thinks Equinix’s Stock is Going to Recover

In a report released yesterday, Erik Rasmussen from Stifel Nicolaus maintained a Buy rating on Equinix (EQIXResearch Report), with a price target of $785.00. The company’s shares closed last Monday at $649.48, close to its 52-week low of $606.12.

According to TipRanks.com, Rasmussen is a 5-star analyst with an average return of 16.1% and a 76.1% success rate. Rasmussen covers the Technology sector, focusing on stocks such as Rocket Lab USA, Spire Global, and Switch.

Equinix has an analyst consensus of Strong Buy, with a price target consensus of $798.17, representing a 22.8% upside. In a report issued on July 12, Goldman Sachs also maintained a Buy rating on the stock with a $765.00 price target.

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Based on Equinix’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.73 billion and net profit of $147 million. In comparison, last year the company earned revenue of $1.6 billion and had a net profit of $156 million.

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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