Equinix (NASDAQ:EQIX) Price Target Lowered to $1,053.00 at Mizuho

Equinix (NASDAQ:EQIX) had its price objective reduced by investment analysts at Mizuho from $1,094.00 to $1,053.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price target would indicate a potential upside of 31.13% from the stock’s current price.

Other analysts also recently issued research reports about the company. JMP Securities restated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective for the company in a research report on Thursday. Scotiabank boosted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Truist Financial cut their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Finally, BMO Capital Markets decreased their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $1,007.59.

Equinix Trading Down 2.7 %

NASDAQ:EQIX opened at $803.00 on Friday. The company’s 50 day moving average is $895.96 and its 200-day moving average is $908.73. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The firm has a market cap of $78.16 billion, a price-to-earnings ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Equities analysts anticipate that Equinix will post 33.1 EPS for the current year.

Insider Activity at Equinix

In other news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. The trade was a 16.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock valued at $17,466,950 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equinix

A number of institutional investors and hedge funds have recently bought and sold shares of EQIX. Principal Financial Group Inc. grew its holdings in Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after acquiring an additional 5,910 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Equinix by 80.0% during the third quarter. Larson Financial Group LLC now owns 108 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 48 shares in the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Equinix by 3,780.0% during the third quarter. Loomis Sayles & Co. L P now owns 194 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 189 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of Equinix by 19.0% in the third quarter. D.A. Davidson & CO. now owns 846 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 135 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in Equinix by 47.4% in the 3rd quarter. Townsquare Capital LLC now owns 1,943 shares of the financial services provider’s stock worth $1,725,000 after purchasing an additional 625 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.