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

Equinix (NASDAQ:EQIX) had its price target raised by analysts at Barclays from $810.00 to $822.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential downside of 10.94% from the company’s previous close.

A number of other brokerages also recently issued reports on EQIX. Mizuho raised their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Wells Fargo & Company raised their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. TD Cowen raised their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and a consensus price target of $945.38.

Equinix Stock Up 1.5 %

NASDAQ EQIX opened at $923.00 on Monday. 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 company has a market capitalization of $89.06 billion, a P/E ratio of 83.23, a P/E/G ratio of 2.25 and a beta of 0.71. Equinix has a one year low of $684.14 and a one year high of $943.02. The stock has a 50 day moving average price of $888.28 and a 200-day moving average price of $821.59.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction 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. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 over the last quarter. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC purchased a new stake in shares of Equinix in the first quarter valued at approximately $31,000. GHP Investment Advisors Inc. increased its position in shares of 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 buying an additional 13 shares in the last quarter. Fortitude Family Office LLC increased 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 valued at $35,000 after buying an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Equinix in the second quarter valued at approximately $36,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.