Scotiabank Sticks to Its Buy Rating for Equinix (EQIX)

In a report released today, Maher Yaghi from Scotiabank maintained a Buy rating on Equinix (EQIX – Research Report), with a price target of $954.00. The company’s shares closed yesterday at $692.71.

Yaghi covers the Communication Services sector, focusing on stocks such as Telus, BCE, and Rogers Communication. According to TipRanks, Yaghi has an average return of 2.2% and a 54.55% success rate on recommended stocks.

In addition to Scotiabank, Equinix also received a Buy from BMO Capital’s Ari Klein in a report issued today. However, on the same day, Barclays assigned a Hold rating to Equinix (NASDAQ: EQIX).

EQIX market cap is currently $65.55B and has a P/E ratio of 67.19.

Based on the recent corporate insider activity of 64 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.

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Equinix (EQIX) Company Description:

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.