Equinix (NASDAQ:EQIX) Price Target Raised to $834.00 at Barclays

Equinix (NASDAQ:EQIX) had its price target boosted by Barclays from $822.00 to $834.00 in a research note published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on EQIX. Truist Financial reduced 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 report on Monday, March 10th. Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Royal Bank of Canada increased their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Buy” and a consensus target price of $990.06.

Equinix Stock Performance

NASDAQ:EQIX opened at $834.59 on Thursday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a fifty day moving average of $903.56 and a two-hundred day moving average of $908.81. The stock has a market capitalization of $81.23 billion, a PE ratio of 97.61, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

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, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, research analysts forecast that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.25%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio is 219.42%.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 215 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the sale, the insider now directly owns 1,245 shares in the company, valued at approximately $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds have recently modified their holdings of EQIX. Norges Bank acquired a new stake in shares of Equinix in the fourth quarter valued at $1,067,270,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after buying an additional 813,666 shares during the last quarter. Northern Trust Corp increased its holdings in Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider’s stock valued at $1,399,042,000 after buying an additional 586,034 shares during the last quarter. Wellington Management Group LLP increased its holdings in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider’s stock valued at $1,701,188,000 after buying an additional 401,991 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Equinix in the fourth quarter valued at $328,899,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.