Oppenheimer analyst Timothy Horan reiterated a rating on Equinix (NASDAQ: EQIX) yesterday and set a price target of . The company’s shares closed yesterday at $455.47, close to its 52-week high of $457.46.
Horan observed:
“Organic growth is slowing a bit, due to a larger base, LinkedIn churn and longer enterprise sales cycles, but we expect it to stabilize ~10%. EQIX continue to build accretive value through transactions, as evidenced by the Terremark acquisition. We believe EQIX can continue to make major acquisitions that are much more accretive than other infrastructure players (such as the towers). We now expect it to develop more exchanges similar to the cloud and to look to add more value-added services. Demand remains strong, as does pricing.”
Currently, the analyst consensus on Equinix is Strong Buy and the average price target is $478.38, representing a 5.0% upside.
In a report issued on July 19, Cowen & Co. also reiterated a Buy rating on the stock with a $465 price target.
Equinix’s market cap is currently $35.49B and has a P/E ratio of 165.57. The company has a book value ratio of 5.4445.
Based on the recent corporate insider activity of 72 insiders, corporate insider sentiment is negative on the stock.
Equinix, Inc. engages in the provision of collocation space and related service. It operates through the following geographical segments: Americas; Europe, Middle East and Africa, and Asia-Pacific. Its services include interconnection and connectivity, data centers and collocation, professional services, and Equinix Marketplace.