Equinix (EQIX) Gets a Buy from Bernstein

Bernstein analyst Madison Rezaei maintained a Buy rating on Equinix yesterday and set a price target of $1,270.00. The company’s shares closed yesterday at $1,034.76.

According to TipRanks, Rezaei is an analyst with an average return of -1.9% and a 42.86% success rate. Rezaei covers the Real Estate sector, focusing on stocks such as American Tower, Crown Castle, and Equinix.

Currently, the analyst consensus on Equinix is a Strong Buy with an average price target of $1,239.61, a 19.80% upside from current levels. In a report released on September 21, Rothschild & Co Redburn also initiated coverage with a Buy rating on the stock with a $1,261.00 price target.

Based on Equinix’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.63 billion and a net profit of $479 million. In comparison, last year the company earned a revenue of $2.26 billion and had a net profit of $368 million

Based on the recent corporate insider activity of 72 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. Earlier this month, Michael Shane Paladin, the Chief Customer & Rev Officer of EQIX sold 307.00 shares for a total of $317,748.07.