Brokerages Set Equinix, Inc. (NASDAQ:EQIX) Price Target at $962.56

Equinix, Inc. (NASDAQ:EQIX) has earned a consensus rating of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat reports. Four research 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 1-year price target among brokerages that have issued ratings on the stock in the last year is $962.56.

A number of analysts have weighed in on EQIX shares. Barclays increased their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. BMO Capital Markets lifted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Truist Financial upped their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Stifel Nicolaus lifted their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, TD Cowen boosted their price objective on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Equinix Trading Up 1.2 %

Shares of EQIX stock opened at $985.00 on Friday. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a market cap of $95.04 billion, a price-to-earnings ratio of 88.82, a PEG ratio of 2.48 and a beta of 0.72. The stock has a 50-day moving average of $909.18 and a 200-day moving average of $837.52.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares of the company’s stock, 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 sold 9,262 shares of company stock worth $8,640,618 over the last three months. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Equinix in the 2nd quarter worth approximately $30,000. LRI Investments LLC purchased a new position in Equinix in the first quarter worth $31,000. GHP Investment Advisors Inc. grew its stake in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC increased 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 purchasing an additional 13 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Equinix in the 2nd quarter worth about $36,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.