Equinix (NASDAQ:EQIX) Stock Rating Upgraded by Hsbc Global Res

Equinix (NASDAQ:EQIX) was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research report issued on Friday, Zacks.com reports.

Several other research analysts also recently commented on the stock. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a research note on Friday. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Mizuho lifted their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Truist Financial lifted their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Equinix currently has an average rating of “Moderate Buy” and an average target price of $903.80.

Equinix Trading Up 0.1 %

Shares of Equinix stock opened at $876.88 on Friday. Equinix has a 1 year low of $677.80 and a 1 year high of $914.93. The firm has a market cap of $83.22 billion, a PE ratio of 87.95, a PEG ratio of 2.15 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The company has a 50 day simple moving average of $838.25 and a two-hundred day simple moving average of $792.81.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.04 earnings per share. Analysts expect that Equinix will post 31.01 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Meredith Williamson sold 576 shares of the company’s 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 SEC, which is available at this link. In related news, insider Meredith Williamson sold 576 shares of the company’s 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 SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Several hedge funds have recently bought and sold shares of EQIX. Public Employees Retirement System of Ohio raised its stake in Equinix by 0.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock valued at $147,131,000 after purchasing an additional 1,159 shares during the last quarter. Global Assets Advisory LLC acquired a new position in Equinix in the 1st quarter valued at $15,187,000. Banque Cantonale Vaudoise increased its stake in shares of Equinix by 48.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock worth $5,430,000 after acquiring an additional 2,133 shares during the last quarter. BDF Gestion acquired a new stake in shares of Equinix in the 2nd quarter worth $2,659,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Equinix by 5.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 199,883 shares of the financial services provider’s stock worth $160,984,000 after acquiring an additional 10,406 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.