Weekly Analysts’ Ratings Changes for Equinix (EQIX)

Posted by Dee Baugher on Nov 1st, 2024

Equinix (NASDAQ: EQIX) recently received a number of ratings updates from brokerages and research firms:

10/31/2024 – Equinix had its price target raised by analysts at Scotiabank from $954.00 to $985.00. They now have a “sector outperform” rating on the stock.
10/31/2024 – Equinix had its price target raised by analysts at BMO Capital Markets from $975.00 to $1,020.00. They now have an “outperform” rating on the stock.
10/31/2024 – Equinix had its price target raised by analysts at TD Cowen from $865.00 to $984.00. They now have a “buy” rating on the stock.
10/28/2024 – Equinix had its price target raised by analysts at Barclays PLC from $671.00 to $810.00. They now have an “equal weight” rating on the stock.
10/23/2024 – Equinix had its price target raised by analysts at Evercore ISI from $945.00 to $975.00. They now have an “outperform” rating on the stock.
10/17/2024 – Equinix had its price target raised by analysts at Wells Fargo & Company from $875.00 to $975.00. They now have an “overweight” rating on the stock.
10/4/2024 – Equinix was upgraded by analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating.
10/4/2024 – Equinix was upgraded by analysts at HSBC Holdings plc from a “hold” rating to a “buy” rating. They now have a $1,000.00 price target on the stock, up previously from $865.00.
10/2/2024 – Equinix was upgraded by analysts at Evercore ISI to a “strong-buy” rating.
10/1/2024 – Equinix had its price target raised by analysts at JPMorgan Chase & Co. from $950.00 to $975.00. They now have an “overweight” rating on the stock.
9/26/2024 – Equinix had its price target raised by analysts at The Goldman Sachs Group, Inc. from $870.00 to $980.00. They now have a “buy” rating on the stock.
9/24/2024 – Equinix had its “hold” rating reaffirmed by analysts at Cfra.
9/12/2024 – Equinix had its price target raised by analysts at Mizuho from $873.00 to $971.00. They now have an “outperform” rating on the stock.

Equinix Trading Down 1.2 %

Shares of NASDAQ:EQIX traded down $10.99 during trading hours on Friday, hitting $897.09. 174,150 shares of the company’s stock traded hands, compared to its average volume of 528,487. The firm has a market capitalization of $85.17 billion, a P/E ratio of 80.89, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71. The business has a fifty day moving average price of $868.35 and a 200-day moving average price of $804.80. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.29% and a return on equity of 8.55%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the firm earned $8.04 EPS. Equinix’s revenue was up 6.9% compared to the same quarter last year. Equities analysts expect that Equinix, Inc. will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued 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 1.90%. Equinix’s payout ratio is 153.65%.

Insider Activity at Equinix

In other news, EVP Jonathan Lin sold 93 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $5,862,689.59. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders sold 10,906 shares of company stock worth $9,071,764 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

Several hedge funds have recently modified their holdings of EQIX. CNB Bank boosted its stake in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix during the 2nd quarter worth $30,000. LRI Investments LLC acquired a new position in Equinix during the 1st quarter valued at about $31,000. GHP Investment Advisors Inc. raised its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.