Citizens Jmp Upgrades Equinix (NASDAQ:EQIX) to “Strong-Buy”

Equinix (NASDAQ:EQIX) was upgraded by equities research analysts at Citizens Jmp to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

EQIX has been the subject of several other research reports. 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. Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Stifel Nicolaus lifted their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company lifted their price target on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $997.53.

Equinix Stock Up 0.7 %

NASDAQ EQIX opened at $906.81 on Monday. The stock’s 50 day simple moving average is $944.33 and its 200 day simple moving average is $884.33. Equinix has a one year low of $684.14 and a one year high of $994.03. The firm has a market cap of $87.50 billion, a PE ratio of 81.77, a price-to-earnings-growth ratio of 2.20 and a beta of 0.73. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Insider Buying and Selling at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,549 shares of company stock valued at $18,036,455 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equinix

Several large investors have recently made changes to their positions in EQIX. Van ECK Associates Corp lifted its stake in Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after acquiring an additional 1,716 shares during the last quarter. Brookfield Corp ON raised its holdings in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing 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 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after purchasing an additional 1,103 shares during the last quarter. Thematics Asset Management grew its holdings in Equinix by 17.7% during the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares during the period. Finally, Nordea Investment Management AB increased 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 worth $278,712,000 after buying an additional 92,975 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.