Equinix (NASDAQ:EQIX) Price Target Raised to $1,087.00

by · The Markets Daily

Equinix (NASDAQ:EQIX – Get Free Report) had its price target increased by equities researchers at Truist Financial from $973.00 to $1,087.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 16.92% from the company’s current price.

A number of other equities analysts also recently weighed in on EQIX. Scotiabank reissued an “outperform” rating on shares of Equinix in a research note on Thursday, February 12th. JPMorgan Chase & Co. boosted their price objective on Equinix from $950.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. BMO Capital Markets raised their target price on Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a report on Thursday, January 22nd. Finally, HSBC set a $1,050.00 price target on Equinix and gave the stock a “buy” rating in a report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Equinix has an average rating of “Moderate Buy” and a consensus price target of $1,001.41.

Get Our Latest Report on Equinix

Equinix Trading Down 2.3%

Shares of EQIX traded down $22.27 during mid-day trading on Wednesday, reaching $929.70. 122,755 shares of the company were exchanged, compared to its average volume of 618,636. The business has a 50 day simple moving average of $801.23 and a two-hundred day simple moving average of $791.93. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $91.34 billion, a PE ratio of 67.61, a PEG ratio of 1.64 and a beta of 1.06. Equinix has a 52 week low of $701.41 and a 52 week high of $992.90.

Equinix (NASDAQ:EQIX – Get Free Report) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 EPS for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the previous year, the company earned $7.92 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, analysts predict that Equinix will post 33.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Adaire Fox-Martin sold 2,894 shares of Equinix stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total value of $2,115,774.46. Following the completion of the sale, the chief executive officer owned 12,366 shares of the company’s stock, valued at approximately $9,040,658.94. This trade represents a 18.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 2,051 shares of the company’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $804.17, for a total transaction of $1,649,352.67. Following the transaction, the chief financial officer owned 26,373 shares in the company, valued at approximately $21,208,375.41. The trade was a 7.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,353 shares of company stock worth $11,283,043 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Brighton Jones LLC grew its holdings in Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after buying an additional 73 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after acquiring an additional 54 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Equinix by 21.8% in the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after acquiring an additional 546 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Equinix by 50.6% in the second quarter. Private Trust Co. NA now owns 128 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 43 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Equinix by 34.0% during the second quarter. Chicago Partners Investment Group LLC now owns 355 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 90 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Company Profile

(Get Free Report)

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.

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