Equinix, Inc. (NASDAQ:EQIX) Receives $976.81 Consensus Price Target from Analysts

Shares of Equinix, Inc. (NASDAQ:EQIX) have received an average rating of “Moderate Buy” from the eighteen research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $984.88.

EQIX has been the subject of several recent research reports. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their price objective for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. BMO Capital Markets raised their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Barclays increased their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Finally, Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 1,726 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the sale, the insider now directly owns 6,505 shares of the company’s stock, valued at approximately $5,886,959.95. This represents a 20.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the transaction, the executive vice president now directly owns 4,893 shares in the company, valued at $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,549 shares of company stock worth $18,036,455 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several large investors have recently made changes to their positions in EQIX. Inspire Trust Co. N.A. increased its position in Equinix by 0.7% in the third quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the period. GS Investments Inc. raised its stake in shares of Equinix by 0.5% during the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after buying an additional 12 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in Equinix by 1.8% in the fourth quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after buying an additional 12 shares during the period. GHP Investment Advisors Inc. grew its holdings in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Finally, Fortitude Family Office LLC raised its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

EQIX stock opened at $940.93 on Friday. The stock has a market cap of $90.79 billion, a P/E ratio of 84.84, a P/E/G ratio of 2.22 and a beta of 0.73. 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 has a 50 day simple moving average of $942.79 and a 200 day simple moving average of $880.36. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio is presently 153.65%.

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.