Equinix (NASDAQ:EQIX) Upgraded to Strong-Buy at Moffett Nathanson

Equinix (NASDAQ:EQIX) was upgraded by analysts at Moffett Nathanson from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

EQIX has been the subject of several other research reports. Wells Fargo & Company decreased their price target on shares of Equinix from $1,100.00 to $1,075.00 and set an “overweight” rating for the company in a research note on Tuesday. Barclays upped their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Evercore ISI upped their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Scotiabank lifted their target price on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equinix currently has an average rating of “Buy” and an average target price of $996.06.

Equinix Stock Down 0.5 %

Shares of NASDAQ:EQIX opened at $933.27 on Wednesday. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. The business’s 50 day moving average is $939.33 and its 200 day moving average is $889.81. The stock has a market cap of $90.05 billion, a price-to-earnings ratio of 84.15, a PEG ratio of 2.18 and a beta of 0.72. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,801 shares of company stock valued at $15,530,564 over the last 90 days. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in Equinix by 5.6% during the 3rd quarter. CWM LLC now owns 1,702 shares of the financial services provider’s stock valued at $1,511,000 after buying an additional 90 shares in the last quarter. Quotient Wealth Partners LLC purchased a new stake in shares of Equinix during the 3rd quarter worth $215,000. Watts Gwilliam & Co. LLC bought a new stake in shares of Equinix in the 3rd quarter valued at about $349,000. Independence Bank of Kentucky increased its position in shares of Equinix by 69.7% during the third quarter. Independence Bank of Kentucky now owns 745 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 306 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Equinix by 310.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 616 shares of the financial services provider’s stock valued at $547,000 after buying an additional 466 shares during the last quarter. 94.94% of the stock is 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.