Equinix (NASDAQ:EQIX) Given New $865.00 Price Target at TD Cowen

Equinix (NASDAQ:EQIX) had its target price lifted by research analysts at TD Cowen from $859.00 to $865.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 5.63% from the company’s current price.

EQIX has been the subject of several other reports. Mizuho assumed coverage on shares of Equinix in a report on Thursday, July 11th. They set an “outperform” rating and a $873.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Equinix in a research note on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada reduced their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Finally, Barclays boosted their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $871.71.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $9.40 during trading on Thursday, hitting $818.88. 365,876 shares of the company were exchanged, compared to its average volume of 568,032. The business’s 50 day moving average is $774.36 and its 200-day moving average is $796.13. The company has a market capitalization of $77.72 billion, a P/E ratio of 82.13, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. Equinix has a 1-year low of $677.80 and a 1-year high of $914.93.

Equinix (NASDAQ:EQIX) last announced its quarterly 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 7.73% and a net margin of 11.32%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $8.04 earnings per share. Equities analysts forecast that Equinix will post 31.23 earnings per share for the current year.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Institutional investors and hedge funds have recently made changes to their positions in the business. CNB Bank raised its holdings in shares of Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares during the last quarter. Valley National Advisers Inc. raised its holdings in shares of Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 26 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Equinix in the 1st quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the 2nd quarter worth about $30,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Equinix in the 4th quarter worth about $32,000. 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.