Dougherty & Co Downgrades Equinix (EQIX) to Neutral; Valuation Call
Tweet
Share
E-mailGet Alerts EQIX Hot Sheet
Price: $748.00 +1.10%
Rating Summary:
27 Buy, 13 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
27 Buy, 13 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Dougherty & Co downgraded Equinix (NASDAQ: EQIX) from Buy to Neutral.
Analyst, Mark, Kelleher, said, "Since we initiated coverage in October 2010 the stock has appreciated 97%, and just since the beginning of 2012 the stock has appreciated 46%. The company now carries an enterprise value of 8.5X our 2013 EBITDA estimate, and has surpassed our 12 month price target of $140. For comparison, EQIX currently trades at an EBITDA multiple slightly less than Akamai Technologies (Akamai (Nasdaq: AKAM), Buy-rated), a company of similar size and growth profile. However, AKAM has no debt, $1.1B of cash on its balance sheet, 68% gross margins, and significantly less CAPX requirements than EQIX."
For an analyst ratings summary and ratings history on Equinix click here. For more ratings news on Equinix click here.
Shares of Equinix closed at $146.05 yesterday.
Analyst, Mark, Kelleher, said, "Since we initiated coverage in October 2010 the stock has appreciated 97%, and just since the beginning of 2012 the stock has appreciated 46%. The company now carries an enterprise value of 8.5X our 2013 EBITDA estimate, and has surpassed our 12 month price target of $140. For comparison, EQIX currently trades at an EBITDA multiple slightly less than Akamai Technologies (Akamai (Nasdaq: AKAM), Buy-rated), a company of similar size and growth profile. However, AKAM has no debt, $1.1B of cash on its balance sheet, 68% gross margins, and significantly less CAPX requirements than EQIX."
For an analyst ratings summary and ratings history on Equinix click here. For more ratings news on Equinix click here.
Shares of Equinix closed at $146.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
- BTIG Downgrades DermTech Inc. (DMTK) to Neutral
- CJS Securities Downgrades Encore Wire (WIRE) to Market Perform
Create E-mail Alert Related Categories
DowngradesSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
