Equinix (NASDAQ:EQIX) Shares Up 0.5% on Analyst Upgrade

Equinix, Inc. (NASDAQ:EQIX) shares rose 0.5% during trading on Thursday after Stifel Nicolaus raised their price target on the stock from $995.00 to $1,080.00. Stifel Nicolaus currently has a buy rating on the stock. Equinix traded as high as $924.73 and last traded at $923.10. Approximately 59,722 shares changed hands during trading, a decline of 89% from the average daily volume of 525,040 shares. The stock had previously closed at $918.94.

Other equities research analysts have also recently issued reports about the stock. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group boosted their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Mizuho increased their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, TD Cowen lifted their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

Insiders Place Their Bets

In other news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 44.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock worth $11,666,756 over the last ninety days. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. BDF Gestion purchased a new stake in shares of Equinix during the second quarter worth about $2,659,000. Van ECK Associates Corp increased its holdings in Equinix by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in shares of Equinix by 3.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after purchasing an additional 1,103 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of Equinix by 25.9% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after buying an additional 75,888 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Equinix by 3.0% during the second quarter. Raymond James & Associates now owns 172,904 shares of the financial services provider’s stock worth $130,819,000 after buying an additional 5,056 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Up 1.4 %

The firm has a market cap of $90.35 billion, a P/E ratio of 84.43, a price-to-earnings-growth ratio of 2.32 and a beta of 0.71. The business’s 50 day moving average is $891.74 and its 200-day moving average is $824.67. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.82%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.