Barclays Forecasts Strong Price Appreciation for Equinix (NASDAQ:EQIX) Stock

Equinix (NASDAQ:EQIX) had its price target raised by investment analysts at Barclays from $822.00 to $834.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential downside of 0.07% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Scotiabank increased their price target on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Truist Financial dropped their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Three equities research 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. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $990.06.

Equinix Stock Down 2.0 %

Equinix stock opened at $834.59 on Thursday. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a market cap of $81.23 billion, a PE ratio of 97.61, a PEG ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The business’s 50-day simple moving average is $903.56 and its two-hundred day simple moving average is $908.28.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results 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 net margin of 9.32% and a return on equity of 6.31%. Equities analysts anticipate that Equinix will post 33.1 EPS for the current year.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 1,370 shares of Equinix stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was 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 in the company, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 over the last ninety days. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several institutional investors have recently made changes to their positions in EQIX. Oppenheimer & Co. Inc. raised its position in Equinix by 61.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after purchasing an additional 3,212 shares during the period. Bank of New York Mellon Corp raised its holdings in Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after buying an additional 2,560 shares during the period. National Pension Service lifted its position in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after buying an additional 3,164 shares during the last quarter. Brookfield Corp ON boosted its stake in Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after buying an additional 32,481 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after acquiring an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.