Equinix, Inc. (NASDAQ:EQIX) Receives $903.80 Consensus Target Price from Brokerages

Equinix, Inc. (NASDAQ:EQIX) has been assigned a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $914.36.

Several brokerages have recently weighed in on EQIX. Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. TD Cowen upped their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Evercore ISI upgraded shares of Equinix to a “strong-buy” rating in a report on Wednesday, October 2nd. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company boosted their target price on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday.

Equinix Price Performance

EQIX stock opened at $888.85 on Friday. The firm has a market cap of $84.36 billion, a price-to-earnings ratio of 89.15, a PEG ratio of 2.13 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix has a 12-month low of $677.80 and a 12-month high of $914.93. The company’s fifty day simple moving average is $853.82 and its 200 day simple moving average is $796.87.

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 the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.04 EPS. On average, analysts expect that Equinix will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s payout ratio is currently 170.91%.

Insider Activity at Equinix

In other Equinix 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 sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction 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 transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently made changes to their positions in the business. CNB Bank grew its holdings in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. LRI Investments LLC bought a new position in shares of Equinix during the 1st quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Equinix during the 2nd quarter valued at $30,000. Sugarloaf Wealth Management LLC grew its holdings in shares of Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in shares of Equinix during the 1st quarter valued at $39,000. 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.