Equinix, Inc. (NASDAQ:EQIX) Receives Consensus Rating of “Moderate Buy” from Analysts

Equinix, Inc. (NASDAQ:EQIX) has been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $976.81.

EQIX has been the subject of a number of recent research reports. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and boosted their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Truist Financial lifted their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Evercore ISI increased their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Scotiabank lifted their price objective 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.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the sale, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock worth $7,906,218 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Equinix by 302.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after purchasing an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Equinix by 89,348.4% in the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock worth $354,111,000 after buying an additional 398,494 shares in the last quarter. Adelante Capital Management LLC boosted its stake in Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after buying an additional 344,114 shares during the period. Principal Financial Group Inc. grew its position in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after buying an additional 238,883 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock worth $238,133,000 after acquiring an additional 160,906 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.1 %

Shares of NASDAQ:EQIX opened at $950.01 on Wednesday. The firm has a market cap of $91.66 billion, a P/E ratio of 85.66, a PEG ratio of 2.51 and a beta of 0.72. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The business’s 50 day simple moving average is $928.03 and its two-hundred day simple moving average is $854.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.79%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) 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.