Equinix, Inc. (NASDAQ:EQIX) Receives $1,007.59 Consensus Price Target from Analysts

Equinix, Inc. (NASDAQ:EQIX) has been assigned an average rating of “Buy” from the twenty-two research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $1,007.59.

A number of research analysts have recently issued reports on the company. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada boosted their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Truist Financial dropped their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Wolfe Research upgraded Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective for the company in a report on Thursday, March 27th.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the completion of the transaction, the insider now owns 1,430 shares in the company, valued at $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Equinix

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinney & Scofield Inc. bought a new position in shares of Equinix during the 4th quarter valued at about $28,000. Kestra Investment Management LLC bought a new position in Equinix during the fourth quarter valued at approximately $31,000. Pacific Center for Financial Services grew its position in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 15 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Equinix in the 4th quarter worth approximately $39,000. Finally, Sierra Ocean LLC bought a new stake in shares of Equinix in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 4.4 %

NASDAQ:EQIX opened at $766.21 on Friday. Equinix has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $74.58 billion, a PE ratio of 89.62, a P/E/G ratio of 1.78 and a beta of 0.95. The firm’s 50 day simple moving average is $883.46 and its 200 day simple moving average is $906.83.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, research analysts anticipate that Equinix will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

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.