JMP Securities Reiterates Market Outperform Rating for Equinix (NASDAQ:EQIX)

Equinix (NASDAQ:EQIX)‘s stock had its “market outperform” rating reiterated by JMP Securities in a research report issued on Thursday,Benzinga reports. They currently have a $1,200.00 target price on the financial services provider’s stock. JMP Securities’ target price would indicate a potential upside of 28.29% from the stock’s previous close.

Several other equities analysts also recently weighed in on the company. Truist Financial increased their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. TD Cowen raised their target price on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Scotiabank upped their price target on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research note on Thursday, January 23rd. Finally, Barclays raised their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $996.06.

Equinix Price Performance

Shares of EQIX traded down $1.11 on Thursday, reaching $935.39. The stock had a trading volume of 26,345 shares, compared to its average volume of 493,815. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market capitalization of $90.26 billion, a PE ratio of 84.34, a PEG ratio of 2.18 and a beta of 0.72. The firm has a 50-day moving average of $940.14 and a 200 day moving average of $889.47.

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred 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 sale, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,823 shares of company stock valued at $16,474,442 over the last 90 days. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Czech National Bank boosted its stake in Equinix by 6.9% in the 3rd quarter. Czech National Bank now owns 19,341 shares of the financial services provider’s stock worth $17,168,000 after purchasing an additional 1,256 shares during the period. Fulton Bank N.A. bought a new position in shares of Equinix in the third quarter valued at approximately $229,000. CWM LLC boosted its position in shares of Equinix by 5.6% in the third quarter. CWM LLC now owns 1,702 shares of the financial services provider’s stock valued at $1,511,000 after acquiring an additional 90 shares during the period. Wedmont Private Capital increased its holdings in Equinix by 7.8% during the 3rd quarter. Wedmont Private Capital now owns 962 shares of the financial services provider’s stock worth $837,000 after acquiring an additional 70 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd purchased a new stake in Equinix in the 3rd quarter worth approximately $22,062,000. 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.