Equinix, Inc. (NASDAQ:EQIX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Equinix, Inc. (NASDAQ:EQIX) has earned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $872.33.

EQIX has been the topic of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Truist Financial raised their target price on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley lowered their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target for the company. in a report on Wednesday, March 20th. Finally, Royal Bank of Canada reduced their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a report on Tuesday, May 28th.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several institutional investors have recently added to or reduced their stakes in EQIX. CNB Bank raised its stake in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 26 shares during the last quarter. LRI Investments LLC bought a new position in shares of Equinix in the first quarter worth approximately $31,000. Criterion Capital Advisors LLC bought a new position in shares of Equinix in the fourth quarter worth approximately $32,000. Finally, Rise Advisors LLC bought a new position in shares of Equinix in the first quarter worth approximately $39,000. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Down 0.4 %

Shares of NASDAQ:EQIX opened at $756.38 on Wednesday. The company has a market cap of $71.79 billion, a PE ratio of 75.87, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a 50 day simple moving average of $755.95 and a 200 day simple moving average of $799.79. Equinix has a 52 week low of $677.80 and a 52 week high of $914.93.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s payout ratio is 170.91%.

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.