Equinix (NASDAQ:EQIX) Stock Price Up 1% After Analyst Upgrade

Equinix, Inc. (NASDAQ:EQIX) shares were up 1% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $935.00 to $1,090.00. Truist Financial currently has a buy rating on the stock. Equinix traded as high as $991.93 and last traded at $988.58. Approximately 60,764 shares changed hands during trading, a decline of 89% from the average daily volume of 531,659 shares. The stock had previously closed at $979.10.

Several other research analysts have also commented on EQIX. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Evercore ISI boosted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, HSBC raised Equinix from a “hold” rating to a “buy” rating and increased their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average target price of $962.56.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock valued at $11,666,756 in the last ninety days. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC acquired a new stake in shares of Equinix during the first quarter worth about $31,000. Cetera Investment Advisers lifted its position in Equinix by 220.6% during the 1st quarter. Cetera Investment Advisers now owns 8,118 shares of the financial services provider’s stock worth $6,699,000 after acquiring an additional 5,586 shares during the period. Cetera Advisors LLC grew its stake in shares of Equinix by 69.0% in the 1st quarter. Cetera Advisors LLC now owns 2,052 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 838 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Equinix by 6.5% in the second quarter. GAMMA Investing LLC now owns 674 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 41 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Equinix by 29.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,023 shares of the financial services provider’s stock valued at $774,000 after purchasing an additional 235 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

The company has a 50 day moving average price of $902.59 and a 200 day moving average price of $833.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $94.70 billion, a PE ratio of 88.50, a PEG ratio of 2.52 and a beta of 0.71.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

About Equinix

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.