Equinix (NASDAQ:EQIX) PT Raised to $975.00

Equinix (NASDAQ:EQIX) had its target price upped by investment analysts at JPMorgan Chase & Co. from $950.00 to $975.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 9.84% from the company’s current price.

Other analysts also recently issued research reports about the company. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group lifted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. TD Cowen lifted their target price on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $897.13.

Equinix Stock Performance

Shares of EQIX traded up $0.06 during mid-day trading on Tuesday, hitting $887.69. The stock had a trading volume of 183,481 shares, compared to its average volume of 543,051. The company has a market cap of $84.25 billion, a PE ratio of 88.73, a PEG ratio of 2.15 and a beta of 0.71. The company’s fifty day simple moving average is $830.58 and its two-hundred day simple moving average is $791.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $8.04 EPS. On average, equities analysts expect that Equinix will post 31.01 earnings per share for the current year.

Insider Buying and Selling at Equinix

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business’s 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 completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Equinix

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio lifted its position in shares of Equinix by 0.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after purchasing an additional 1,159 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in shares of Equinix during the 4th quarter worth about $3,724,000. Global Assets Advisory LLC bought a new position in Equinix during the first quarter valued at about $15,187,000. Schroder Investment Management Group increased its stake in Equinix by 0.6% during the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock valued at $194,864,000 after acquiring an additional 1,547 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in Equinix by 48.0% during the first quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after acquiring an additional 2,133 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.