Equinix, Inc. (NASDAQ:EQIX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Equinix, Inc. (NASDAQ:EQIX) have been given an average rating of “Moderate Buy” by the twenty analysts that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $962.56.

Several equities analysts have commented on the company. Mizuho upped their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Scotiabank upped their price target on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Barclays lifted 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, November 18th. Finally, TD Cowen increased their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Insiders Place Their Bets

In other 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 sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,754 shares of company stock valued at $11,666,756. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix during the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in Equinix in the 1st quarter valued at $31,000. GHP Investment Advisors Inc. grew its stake in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Fortitude Family Office LLC increased its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Equinix during the second quarter valued at $36,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Equinix stock opened at $981.48 on Friday. The firm has a market capitalization of $94.70 billion, a PE ratio of 88.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.71. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. The firm has a 50-day moving average price of $902.59 and a 200-day moving average price of $832.87. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. Equinix’s payout ratio is 153.65%.

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.