Equinix (NASDAQ:EQIX) PT Raised to $975.00

Equinix (NASDAQ:EQIX) had its price target boosted by JPMorgan Chase & Co. from $950.00 to $975.00 in a research note published on Tuesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company upgraded Equinix from an equal weight rating to an overweight rating and upped their price target for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an outperform rating in a report on Thursday, September 12th. The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the company a buy rating in a report on Thursday, September 26th. Cfra reissued a hold rating on shares of Equinix in a research note on Tuesday, September 24th. Finally, Truist Financial lifted their target price on shares of Equinix from $915.00 to $935.00 and gave the company a buy rating in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $903.80.

Equinix Trading Up 0.1 %

Equinix stock opened at $876.88 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. The company has a market cap of $83.22 billion, a P/E ratio of 87.95, a P/E/G ratio of 2.15 and a beta of 0.71. The business has a 50-day simple moving average of $838.25 and a two-hundred day simple moving average of $793.17. Equinix has a 52-week low of $677.80 and a 52-week high of $914.93.

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

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.94%. Equinix’s dividend payout ratio is currently 170.91%.

Insider Buying and Selling at Equinix

In other news, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the transaction, the executive vice president now owns 7,141 shares in the company, valued at approximately $5,862,689.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,043 shares of company stock valued at $8,282,119. Company 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. Vanguard Group Inc. boosted its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares during the last quarter. Cohen & Steers Inc. boosted its position in Equinix by 0.5% during the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after acquiring an additional 13,988 shares during the last quarter. Principal Financial Group Inc. boosted its position in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Equinix by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after acquiring an additional 47,795 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Equinix by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after acquiring an additional 19,844 shares during the last quarter. 94.94% of the stock is currently 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.