Equinix (NASDAQ:EQIX) Given New $1,065.00 Price Target at Wells Fargo & Company

Equinix (NASDAQ:EQIX) had its price target decreased by equities research analysts at Wells Fargo & Company from $1,075.00 to $1,065.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.09% from the company’s current price.

A number of other equities research analysts have also recently commented on EQIX. Royal Bank of Canada raised their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. TD Cowen lifted 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. Barclays upped their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 6th. Finally, Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $995.47.

Equinix Stock Performance

Shares of EQIX stock traded down $17.82 on Thursday, reaching $917.38. The stock had a trading volume of 176,462 shares, compared to its average volume of 479,170. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a 50 day simple moving average of $936.92 and a 200 day simple moving average of $894.76. 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 cap of $88.52 billion, a P/E ratio of 82.90, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72.

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

Insider Activity at Equinix

In other news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,801 shares of company stock worth $15,530,564. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Equinix by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after purchasing an additional 88,654 shares during the last quarter. State Street Corp boosted its position in Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after buying an additional 81,941 shares during the last quarter. Geode Capital Management LLC increased its holdings in Equinix by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock worth $2,269,037,000 after buying an additional 62,005 shares during the period. FMR LLC raised its position in Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock worth $2,135,606,000 after buying an additional 81,144 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Equinix by 2.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after acquiring an additional 44,471 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.