Wells Fargo & Company Lowers Equinix (NASDAQ:EQIX) Price Target to $1,075.00

Equinix (NASDAQ:EQIX) had its target price decreased by investment analysts at Wells Fargo & Company from $1,100.00 to $1,075.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 14.79% from the stock’s previous close.

A number of other research firms have also recently weighed in on EQIX. Royal Bank of Canada lifted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. BMO Capital Markets upped their price objective on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Evercore ISI lifted their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Truist Financial lifted their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $996.06.

Equinix Price Performance

NASDAQ EQIX opened at $936.50 on Tuesday. The stock has a market cap of $90.36 billion, a price-to-earnings ratio of 84.45, a PEG ratio of 2.18 and a beta of 0.72. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The company’s 50 day moving average is $941.00 and its two-hundred day moving average is $889.14. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,823 shares of company stock worth $16,474,442. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently added to or reduced their stakes in EQIX. State Street Corp increased its holdings in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares during the period. Geode Capital Management LLC grew its position in shares of Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after buying an additional 33,277 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after buying an additional 44,471 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after acquiring an additional 53,729 shares during the period. 94.94% of the stock is currently owned by institutional investors.

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.