Mizuho Issues Pessimistic Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price target decreased by analysts at Mizuho from $1,094.00 to $1,053.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Mizuho’s target price would suggest a potential upside of 31.13% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. BMO Capital Markets decreased their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Barclays raised their price objective on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Scotiabank lifted their price target on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $1,007.59.

Equinix Trading Down 2.7 %

Equinix stock opened at $803.00 on Friday. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $78.16 billion, a price-to-earnings ratio of 93.92, a PEG ratio of 1.78 and a beta of 0.74. The firm has a 50-day moving average price of $895.96 and a two-hundred day moving average price of $908.73.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts expect that Equinix will post 33.1 earnings per share for the current year.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $17,466,950 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its stake in shares of Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after purchasing an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp raised its position in Equinix by 0.4% during the fourth 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 acquiring an additional 2,560 shares in the last quarter. National Pension Service raised its position in Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after acquiring an additional 3,164 shares in the last quarter. Brookfield Corp ON grew its position 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 in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Equinix by 19.2% during the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after purchasing an additional 404 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other 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.