Equinix (NASDAQ:EQIX) Given “Market Outperform” Rating at JMP Securities

Equinix (NASDAQ:EQIX)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $1,200.00 price target on the financial services provider’s stock. JMP Securities’ target price points to a potential upside of 30.81% from the company’s previous close.

A number of other brokerages also recently commented on EQIX. Wells Fargo & Company lowered their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Evercore ISI upped their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Barclays boosted their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Finally, Scotiabank raised their price objective 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. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Equinix currently has an average rating of “Buy” and a consensus target price of $995.47.

Equinix Stock Performance

Equinix stock traded down $17.82 during trading hours on Thursday, reaching $917.38. 176,462 shares of the stock were exchanged, compared to its average volume of 479,170. 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 firm’s 50 day moving average is $936.92 and its 200 day moving average is $894.76. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The stock has a market cap of $88.52 billion, a P/E ratio of 82.90, a P/E/G ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. Analysts predict that Equinix will post 31.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Keith D. Taylor sold 3,184 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,801 shares of company stock valued at $15,530,564 over the last 90 days. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

Large investors have recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in Equinix during the 4th quarter worth about $31,000. GHP Investment Advisors Inc. lifted its position in shares of 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 in the last quarter. Fortitude Family Office LLC grew its stake in shares of Equinix by 50.0% during 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 during the last quarter. J.Safra Asset Management Corp bought a new position in Equinix in the 4th quarter worth approximately $39,000. Finally, Sierra Ocean LLC acquired a new position in Equinix during the 4th quarter worth $42,000. Institutional investors own 94.94% of the company’s stock.

About Equinix

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.