Equinix (NASDAQ:EQIX) Stock Price Up 0.5% After Analyst Upgrade

Equinix, Inc. (NASDAQ:EQIX) shot up 0.5% on Thursday after Stifel Nicolaus raised their price target on the stock from $995.00 to $1,080.00. Stifel Nicolaus currently has a buy rating on the stock. Equinix traded as high as $924.73 and last traded at $923.10. 59,722 shares were traded during trading, a decline of 89% from the average session volume of 525,040 shares. The stock had previously closed at $918.94.

Several other analysts also recently weighed in on the company. TD Cowen upped their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays raised their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday. Truist Financial upped their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and an average price target of $952.88.

Insiders Place Their Bets

In related news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 9.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the transaction, the director now owns 17,794 shares in the company, valued at $15,854,454. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

Hedge funds have recently bought and sold shares of the business. GS Investments Inc. grew its stake in shares of Equinix by 0.5% in the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after acquiring an additional 12 shares in the last quarter. Cypress Capital Group lifted its position 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 buying an additional 13 shares in the last quarter. MRA Advisory Group boosted its stake in shares of Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after buying an additional 13 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Up 0.7 %

The stock has a fifty day moving average of $890.45 and a 200 day moving average of $822.99. The firm has a market capitalization of $89.32 billion, a P/E ratio of 83.47, a price-to-earnings-growth ratio of 2.32 and a beta of 0.71. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

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.