>>Equities research analysts at RBC Capital Mkts Reiterate a “Outperform” rating for shares of Equinix, Inc. (EQIX) in a research note released to investors today.
>>Piper Jaffray is raising its price target on shares of Equinix to $115 from $112, and it has an Overweight rating on shares after it reported earnings.
In a note to clients, Piper Jaffray writes, "Equinix reported very strong first quarter results, raised 2011 guidance and announced 3 additional expansion projects. There were almost no items of concern for us either in the reported numbers or management's comments; business trends appear to be very positive. We are reiterating our Overweight rating and are raising our price target to $115 from $112."
>>Equities research analysts at Kaufman Bros Reiterate a “Hold” rating for shares of Equinix, Inc. (EQIX) in a research note released to investors today.
>>Benchmark increases its 2011 estimates, driving the price target to $115 from $105 and maintains a Buy rating.
Equinix's 1Q11 beat was due to better-than-expected revenue, both recurring and nonrecurring. Expense savings that may not fully recur also contributed. As such, some of the beat will not flow through to the rest of the year.
Equinix believes it will complete the hiring of its new salesforce in 2Q11. The new salesforce could start adding to growth by 4Q11, with the full impact coming in 2012 and 2013. Some of the 1Q expense savings will not recur, in part due to the salesforce ramp.