BMO Capital Markets Lowers Equinix (NASDAQ:EQIX) Price Target to $1,065.00

Equinix (NASDAQ:EQIX) had its price target decreased by equities researchers at BMO Capital Markets from $1,085.00 to $1,065.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 16.01% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday. TD Cowen boosted their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada lifted their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $999.59.

Equinix Stock Down 1.8 %

EQIX stock traded down $17.20 during midday trading on Thursday, hitting $918.00. The stock had a trading volume of 419,991 shares, compared to its average volume of 488,343. The business has a 50-day moving average of $936.92 and a two-hundred day moving average of $894.76. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $88.58 billion, a price-to-earnings ratio of 82.63, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. As a group, equities research analysts forecast that Equinix will post 31.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Equinix

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

Hedge Funds Weigh In On Equinix

Several institutional investors have recently added to or reduced their stakes in the company. Inspire Trust Co. N.A. boosted its position in shares of Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 11 shares during the last quarter. Rothschild Investment LLC lifted its position in Equinix by 1.9% during the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 11 shares during the last quarter. GS Investments Inc. grew its stake in shares of Equinix by 0.5% in the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after buying an additional 12 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Equinix by 1.8% in the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after buying an additional 12 shares during the last quarter. Finally, Great Lakes Retirement Inc. increased its holdings in shares of Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock worth $920,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.