Equinix (NASDAQ:EQIX) Price Target Raised to $1,020.00

by · The Markets Daily

Equinix (NASDAQ:EQIX – Free Report) had its price target upped by BMO Capital Markets from $975.00 to $1,020.00 in a research note released on Thursday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their target price on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Mizuho raised their price target on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Truist Financial boosted their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $944.63.

Get Our Latest Research Report on EQIX

Equinix Trading Down 2.2 %

NASDAQ:EQIX opened at $888.30 on Thursday. The company has a market capitalization of $85.71 billion, a P/E ratio of 80.10, a P/E/G ratio of 2.18 and a beta of 0.71. The stock’s 50 day moving average price is $869.56 and its 200 day moving average price is $806.75. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.22 and a current ratio of 1.16. Equinix has a 52 week low of $684.14 and a 52 week high of $943.02.

Equinix (NASDAQ:EQIX – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.04 EPS. On average, research analysts forecast that Equinix will post 31.01 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.92%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Buying and Selling

In other Equinix news, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, 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 completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,906 shares of company stock worth $9,071,764 in the last three months. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently modified their holdings of the stock. Norden Group LLC acquired a new position in shares of Equinix in the 1st quarter valued at $3,087,000. Private Advisor Group LLC raised its holdings in Equinix by 5.6% during the 1st quarter. Private Advisor Group LLC now owns 931 shares of the financial services provider’s stock worth $769,000 after buying an additional 49 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Equinix by 15.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,530 shares of the financial services provider’s stock valued at $29,324,000 after buying an additional 4,664 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Equinix by 4.4% during the first quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock worth $8,102,000 after acquiring an additional 414 shares in the last quarter. Finally, PDS Planning Inc raised its holdings in shares of Equinix by 3.8% during the first quarter. PDS Planning Inc now owns 521 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 19 shares during the period. 94.94% of the stock is owned by institutional investors.

About Equinix

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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.

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