Wells Fargo & Company Increases Equinix (NASDAQ:EQIX) Price Target to $975.00

Equinix (NASDAQ:EQIX) had its target price increased by equities research analysts at Wells Fargo & Company from $875.00 to $975.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.97% from the stock’s current price.

EQIX has been the subject of several other research reports. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Mizuho raised their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Evercore ISI upgraded Equinix to a “strong-buy” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $914.36.

Equinix Stock Performance

EQIX stock traded up $6.39 during midday trading on Thursday, reaching $886.59. The company had a trading volume of 93,756 shares, compared to its average volume of 528,945. 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 stock has a 50 day moving average price of $852.23 and a 200 day moving average price of $796.23. The firm has a market capitalization of $84.14 billion, a PE ratio of 88.93, a P/E/G ratio of 2.13 and a beta of 0.71. Equinix has a fifty-two week low of $677.80 and a fifty-two week high of $914.93.

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

Insider Buying and Selling

In other Equinix news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,043 shares of company stock valued at $8,282,119. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Institutional investors have recently modified their holdings of the stock. CNB Bank lifted its stake in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the 2nd quarter valued at $30,000. LRI Investments LLC bought a new stake in Equinix in the first quarter worth $31,000. Meeder Asset Management Inc. acquired a new position in Equinix during the second quarter worth $36,000. Finally, Sugarloaf Wealth Management LLC increased its position in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.