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

Shares of Equinix, Inc. (NASDAQ:EQIX) have been given an average recommendation of “Moderate Buy” by the twenty analysts that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $903.80.

Several research analysts have commented on EQIX shares. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Truist Financial boosted their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Finally, TD Cowen boosted their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th.

Insider Activity

In other news, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Several hedge funds have recently modified their holdings of the company. Cypress Capital Group boosted its stake in shares of Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group boosted its position in shares of Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 13 shares during the last quarter. Banco Santander S.A. boosted its position in shares of Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 14 shares during the last quarter. Abbrea Capital LLC boosted its position in shares of Equinix by 5.5% in the second quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 14 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Equinix by 30.0% in the first quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 15 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

Equinix stock opened at $870.54 on Friday. The company’s 50 day simple moving average is $843.93 and its 200-day simple moving average is $794.08. The company has a market capitalization of $82.62 billion, a price-to-earnings ratio of 87.32, a price-to-earnings-growth ratio of 2.15 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 debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company earned $8.04 earnings per share. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that Equinix will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. Equinix’s dividend payout ratio is presently 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.