Equinix (NASDAQ:EQIX) Receives “Hold” Rating from Cfra

Equinix (NASDAQ:EQIX)‘s stock had its “hold” rating reiterated by research analysts at Cfra in a report released on Tuesday, Benzinga reports.

A number of other research firms have also recently issued reports on EQIX. TD Cowen lifted their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Barclays boosted their price target on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Mizuho upped their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group started coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $883.71.

Equinix Stock Up 1.1 %

Shares of EQIX traded up $10.08 during midday trading on Tuesday, reaching $892.00. 133,636 shares of the company were exchanged, compared to its average volume of 544,156. The stock has a 50-day moving average price of $821.97 and a 200-day moving average price of $791.59. The company has a market cap of $84.66 billion, a price-to-earnings ratio of 89.37, a P/E/G ratio of 2.11 and a beta of 0.71. Equinix has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.04 EPS. Research analysts expect that Equinix will post 31.01 earnings per share for the current year.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of institutional investors and hedge funds have recently modified their holdings of the business. Gryphon Financial Partners LLC acquired a new stake in Equinix during the 4th quarter worth about $581,000. Brown Advisory Inc. purchased a new stake in shares of Equinix in the 4th quarter valued at approximately $288,000. Corient Private Wealth LLC grew its holdings in shares of Equinix by 4.1% in the fourth quarter. Corient Private Wealth LLC now owns 5,925 shares of the financial services provider’s stock valued at $4,772,000 after purchasing an additional 231 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Equinix by 5.0% in the fourth quarter. Parallel Advisors LLC now owns 634 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 30 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new position in Equinix during the 4th quarter worth approximately $630,000. 94.94% of the stock is owned by institutional investors.

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.