Equinix (NASDAQ:EQIX) Coverage Initiated by Analysts at JMP Securities

JMP Securities started coverage on shares of Equinix (NASDAQ:EQIX) in a report released on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $1,200.00 price objective on the financial services provider’s stock.

A number of other brokerages have also commented on EQIX. TD Cowen boosted their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial boosted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Stifel Nicolaus upped their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $997.53.

Equinix Stock Performance

Shares of EQIX stock opened at $900.10 on Monday. The company’s fifty day simple moving average is $944.51 and its 200-day simple moving average is $883.61. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $86.85 billion, a PE ratio of 81.16, a P/E/G ratio of 2.20 and a beta of 0.73. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.89%. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insider Transactions at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the transaction, the chief financial officer now owns 18,966 shares in the company, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,549 shares of company stock valued at $18,036,455. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equinix

Hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its holdings in shares of Equinix by 9.2% during the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares in the last quarter. Brookfield Corp ON lifted its stake in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after acquiring an additional 32,481 shares during the period. E. Ohman J or Asset Management AB lifted its stake in Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after acquiring an additional 1,103 shares during the period. Thematics Asset Management lifted its stake in Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after acquiring an additional 6,000 shares during the period. Finally, Nordea Investment Management AB lifted its position in Equinix by 46.1% during the fourth quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock valued at $278,712,000 after buying an additional 92,975 shares during the period. 94.94% of the stock is currently owned by institutional investors.

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.