Equinix, Inc. (NASDAQ:EQIX) Receives Average Rating of “Moderate Buy” from Brokerages

Equinix, Inc. (NASDAQ:EQIX) has received a consensus recommendation of “Moderate Buy” from the twenty research firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $944.63.

Several equities analysts have recently issued reports on EQIX shares. BMO Capital Markets lifted their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company upped their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Barclays increased their price objective on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Finally, Scotiabank upped their target price on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st.

Insider Transactions at Equinix

In related news, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the transaction, the insider now owns 6,505 shares of the company’s stock, valued at approximately $5,886,959.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,632 shares of company stock worth $10,633,777 in the last three months. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

Several hedge funds have recently added to or reduced their stakes in the business. Cypress Capital Group raised its position in shares of Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares during the period. MRA Advisory Group grew its stake in Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Banco Santander S.A. lifted its position in shares of Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after buying an additional 14 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $895.92 on Tuesday. The business’s 50 day moving average price is $871.10 and its 200 day moving average price is $807.85. The firm has a market cap of $86.45 billion, a P/E ratio of 80.79, a P/E/G ratio of 2.18 and a beta of 0.71. Equinix has a 52 week low of $684.14 and a 52 week high of $943.02. The company has a quick ratio of 1.22, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.34% and a net margin of 12.29%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $8.04 earnings per share. On average, sell-side analysts expect that Equinix will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.90%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

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.