Equinix (NASDAQ:EQIX) Price Target Raised to $984.00

Equinix (NASDAQ:EQIX) had its target price upped by equities researchers at TD Cowen from $865.00 to $984.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s price target suggests a potential upside of 10.77% from the stock’s current price.

EQIX has been the topic of a number of other reports. Wells Fargo & Company upped their target price on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Mizuho increased their price target on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and increased their price target for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Stock Performance

Equinix stock opened at $888.30 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a market cap of $84.34 billion, a PE ratio of 80.10, a PEG ratio of 2.19 and a beta of 0.71. The company’s 50-day moving average is $869.56 and its two-hundred day moving average is $805.80.

Equinix (NASDAQ:EQIX) last released its 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 net margin of 12.29% and a return on equity of 8.55%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the company posted $8.04 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts anticipate that Equinix will post 31.01 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was 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 in the company, valued at approximately $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Equinix news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was 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 in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now owns 8,231 shares in the company, valued at approximately $7,531,365. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,906 shares of company stock worth $9,071,764. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Equinix by 3.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after purchasing an additional 47,795 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Equinix by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares during the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in shares of Equinix by 13.5% during the first quarter. Centersquare Investment Management LLC now owns 943,056 shares of the financial services provider’s stock worth $778,332,000 after purchasing an additional 112,194 shares during the last quarter. 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.