Equinix (NASDAQ:EQIX) Price Target Raised to $975.00

Equinix (NASDAQ:EQIX) had its target price increased by Oppenheimer from $950.00 to $975.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on EQIX. TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Scotiabank upped their price target on Equinix from $985.00 to $1,114.00 and gave the company a “sector outperform” rating in a research report on Thursday, January 23rd. 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 report on Wednesday, December 11th. Evercore ISI upped 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, BMO Capital Markets upped their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Buy” and an average price target of $994.82.

Equinix Price Performance

Shares of EQIX opened at $933.60 on Thursday. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The business’s 50 day moving average price is $934.88 and its two-hundred day moving average price is $896.05. The firm has a market cap of $90.08 billion, a PE ratio of 84.18, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, equities analysts anticipate that Equinix will post 31.09 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is 153.65%.

Insider Buying and Selling

In other news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kurt Pletcher sold 222 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the transaction, the insider now directly owns 1,015 shares in the company, valued at $976,633. The trade was a 17.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,801 shares of company stock valued at $15,530,564. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock valued at $18,099,000 after purchasing an additional 1,716 shares in the last quarter. Brookfield Corp ON boosted its stake 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 in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of 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 in the last quarter. Thematics Asset Management boosted its stake in shares of Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock valued at $35,462,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Equinix by 46.1% in the 4th quarter. Nordea Investment Management AB now owns 294,696 shares of the financial services provider’s stock valued at $278,712,000 after purchasing an additional 92,975 shares in the last quarter. Hedge funds and other institutional investors 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.