Truist Financial Boosts Equinix (NASDAQ:EQIX) Price Target to $1,090.00

Equinix (NASDAQ:EQIX) had its target price upped by Truist Financial from $935.00 to $1,090.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also commented on the company. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, BMO Capital Markets increased their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $962.56.

Equinix Stock Performance

Shares of EQIX stock opened at $981.48 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $94.70 billion, a price-to-earnings ratio of 88.50, a PEG ratio of 2.53 and a beta of 0.71. Equinix has a one year low of $684.14 and a one year high of $994.03. The company’s 50-day simple moving average is $902.59 and its 200-day simple moving average is $833.34.

Equinix Dividend Announcement

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

Insider Buying and Selling at Equinix

In other news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This represents a 99.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 13,754 shares of company stock valued at $11,666,756. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several large investors have recently made changes to their positions in EQIX. Tidal Investments LLC lifted its stake in Equinix by 12.9% during the third quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock valued at $22,880,000 after purchasing an additional 2,940 shares during the last quarter. Cim Investment Management Inc. increased its holdings in shares of Equinix by 31.4% in the third quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock valued at $3,261,000 after buying an additional 879 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Equinix during the 3rd quarter worth $582,000. Sanctuary Advisors LLC grew its holdings in shares of Equinix by 133.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 17,714 shares of the financial services provider’s stock worth $16,587,000 after acquiring an additional 10,140 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in shares of Equinix by 49.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider’s stock worth $1,414,000 after purchasing an additional 524 shares during the period. Institutional investors own 94.94% of the company’s stock.

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.