Analysts Set Equinix, Inc. (NASDAQ:EQIX) Target Price at $883.71

Shares of Equinix, Inc. (NASDAQ:EQIX) have been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $883.71.

EQIX has been the topic of a number of research reports. Truist Financial raised their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Finally, Royal Bank of Canada lowered their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC increased its stake in Equinix by 18.9% in the fourth quarter. Private Advisor Group LLC now owns 882 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 140 shares during the last quarter. Gryphon Financial Partners LLC acquired a new position in shares of Equinix during the 4th quarter valued at about $581,000. Great Lakes Advisors LLC lifted its holdings in shares of Equinix by 43.4% during the 4th quarter. Great Lakes Advisors LLC now owns 3,173 shares of the financial services provider’s stock worth $2,556,000 after acquiring an additional 960 shares during the period. Financial Advocates Investment Management boosted its position in shares of Equinix by 3.7% in the fourth quarter. Financial Advocates Investment Management now owns 476 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 17 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new stake in Equinix in the fourth quarter valued at approximately $288,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Up 0.7 %

EQIX opened at $877.20 on Monday. The business’s 50-day simple moving average is $820.42 and its 200-day simple moving average is $791.76. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix has a one year low of $677.80 and a one year high of $914.93. The stock has a market capitalization of $83.25 billion, a P/E ratio of 87.98, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71.

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

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

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.