Equinix (NASDAQ:EQIX) Price Target Raised to $975.00 at Evercore ISI

Equinix (NASDAQ:EQIX) had its price objective hoisted by analysts at Evercore ISI from $945.00 to $975.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price objective indicates a potential upside of 10.33% from the company’s current price.

A number of other equities research analysts have also issued reports on EQIX. JPMorgan Chase & Co. lifted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Truist Financial raised their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has an average rating of “Moderate Buy” and an average target price of $918.40.

Equinix Stock Up 0.6 %

NASDAQ:EQIX traded up $5.36 during trading hours on Wednesday, hitting $883.73. 49,823 shares of the company’s stock traded hands, compared to its average volume of 525,274. The stock’s fifty day moving average price is $857.54 and its two-hundred day moving average price is $798.99. The firm has a market cap of $83.87 billion, a P/E ratio of 88.81, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix has a twelve month low of $677.80 and a twelve month high of $914.93.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business 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 revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.04 EPS. On average, research analysts expect that Equinix will post 31.01 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Equinix

A number of institutional investors have recently added to or reduced their stakes in the company. CNB Bank lifted its position 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 period. LRI Investments LLC bought a new position in Equinix in the first quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix during the second quarter worth $30,000. Sugarloaf Wealth Management LLC increased its holdings in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Equinix in the 2nd quarter valued at $36,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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.