Truist Financial Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price target raised by Truist Financial from $935.00 to $1,090.00 in a research report sent to investors on Friday,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their target price for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, TD Cowen raised their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $962.56.

Equinix Stock Performance

EQIX opened at $981.48 on Friday. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03. The stock has a market cap of $94.70 billion, a P/E ratio of 88.50, a P/E/G ratio of 2.52 and a beta of 0.71. The stock’s 50 day simple moving average is $902.59 and its 200 day simple moving average is $832.87. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be given a dividend of $4.26 per share. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insiders Place Their Bets

In other Equinix news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated 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. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,754 shares of company stock worth $11,666,756 over the last ninety days. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

A number of hedge funds have recently bought and sold shares of EQIX. BDF Gestion bought a new stake in shares of Equinix in the second quarter worth $2,659,000. Van ECK Associates Corp increased its position in shares of Equinix by 9.2% in the 3rd quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the last quarter. E. Ohman J or Asset Management AB raised its stake in shares of Equinix by 3.0% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after purchasing an additional 1,103 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its position in shares of Equinix by 25.9% during the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after purchasing an additional 75,888 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Equinix by 3.0% in the second quarter. Raymond James & Associates now owns 172,904 shares of the financial services provider’s stock worth $130,819,000 after purchasing an additional 5,056 shares in the last quarter. Institutional investors and hedge funds 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.