Equinix (NASDAQ:EQIX) Rating Increased to Outperform at Wolfe Research

Equinix (NASDAQ:EQIX) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $978.00 target price on the financial services provider’s stock. Wolfe Research’s price target would suggest a potential upside of 17.68% from the company’s previous close.

A number of other equities analysts have also recently commented on EQIX. Scotiabank boosted their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Barclays raised their price target on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research report on Thursday, March 20th. Truist Financial cut their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, BMO Capital Markets reduced their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $989.39.

Equinix Trading Down 1.2 %

Shares of EQIX stock opened at $831.05 on Thursday. The company has a market capitalization of $80.89 billion, a PE ratio of 97.20, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The business’s fifty day moving average is $900.10 and its 200 day moving average is $909.21. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities research analysts anticipate that Equinix will post 33.1 EPS for the current fiscal year.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the sale, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Pinney & Scofield Inc. bought a new position in shares of Equinix during the fourth quarter valued at approximately $28,000. Kestra Investment Management LLC purchased a new stake in shares of Equinix in the 4th quarter worth approximately $31,000. Pacific Center for Financial Services increased its position in Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after buying an additional 15 shares in the last quarter. J.Safra Asset Management Corp bought a new position in Equinix during the 4th quarter valued at approximately $39,000. Finally, Sierra Ocean LLC purchased a new position in Equinix during the fourth quarter valued at $42,000. 94.94% of the stock is currently owned by institutional investors.

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.