Equinix (NASDAQ:EQIX) Price Target Increased to $975.00 by Analysts at Wells Fargo & Company

Equinix (NASDAQ:EQIX) had its price objective increased by Wells Fargo & Company from $875.00 to $975.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also commented on EQIX. HSBC raised Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Mizuho boosted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Finally, Truist Financial boosted their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $914.36.

Equinix Price Performance

Equinix stock opened at $895.20 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $84.96 billion, a P/E ratio of 89.79, a P/E/G ratio of 2.13 and a beta of 0.71. The business’s fifty day moving average is $855.35 and its two-hundred day moving average is $797.63. Equinix has a 52 week low of $677.80 and a 52 week high of $914.93.

Equinix (NASDAQ:EQIX) last posted 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 business had revenue of $2.16 billion during 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%. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.04 EPS. Equities research analysts forecast that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders 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 annualized dividend and a dividend yield of 1.90%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Insiders Place Their Bets

In other Equinix news, 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 completion of the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. 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 over the last ninety days. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EQIX. CNB Bank boosted its position in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Equinix during the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new position in Equinix during the first quarter valued at approximately $31,000. Meeder Asset Management Inc. acquired a new position in Equinix during the second quarter valued at approximately $36,000. Finally, Sugarloaf Wealth Management LLC boosted its position in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. 94.94% of the stock is 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.