Equinix (NASDAQ:EQIX) Shares Up 1% on Analyst Upgrade

Shares of Equinix, Inc. (NASDAQ:EQIX) rose 1% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $935.00 to $1,090.00. Truist Financial currently has a buy rating on the stock. Equinix traded as high as $991.93 and last traded at $988.58. Approximately 60,764 shares changed hands during trading, a decline of 89% from the average daily volume of 531,659 shares. The stock had previously closed at $979.10.

A number of other research analysts have also recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Barclays boosted their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. increased their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. BMO Capital Markets lifted their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, TD Cowen increased their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $962.56.

Insiders Place Their Bets

In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,754 shares of company stock worth $11,666,756. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of institutional investors have recently modified their holdings of the company. LRI Investments LLC acquired a new stake in Equinix in the 1st quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix in the second quarter worth $30,000. GHP Investment Advisors Inc. boosted its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC grew its position in 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 purchasing an additional 13 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Up 0.2 %

The firm’s 50-day simple moving average is $900.50 and its 200 day simple moving average is $831.45. 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 stock has a market capitalization of $94.70 billion, a P/E ratio of 88.48, a PEG ratio of 2.52 and a beta of 0.71.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.74%. Equinix’s payout ratio 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.