Equinix (NASDAQ:EQIX) Price Target Cut to $669.00 by Analysts at Barclays

Equinix (NASDAQ:EQIX) had its price target decreased by Barclays from $818.00 to $669.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would suggest a potential downside of 9.16% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada increased their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Wells Fargo & Company increased their target price on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. BMO Capital Markets boosted their price target on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Stifel Nicolaus reiterated a “buy” rating and set a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Finally, HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Performance

NASDAQ EQIX traded down $5.64 during trading on Wednesday, reaching $736.50. The company’s stock had a trading volume of 277,877 shares, compared to its average volume of 556,957. The firm has a 50 day moving average price of $840.28 and a 200 day moving average price of $802.23. Equinix has a 12 month low of $672.88 and a 12 month high of $914.93. The firm has a market capitalization of $69.69 billion, a price-to-earnings ratio of 71.40, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19.

Insider Buying and Selling

In other Equinix news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares in the company, valued at approximately $6,622,364.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the transaction, the chairman now owns 7,968 shares in the company, valued at $6,622,364.16. The disclosure for this sale can be found here. Insiders sold 4,585 shares of company stock valued at $3,818,268 over the last quarter. Insiders own 0.32% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Equinix by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 12,265,174 shares of the financial services provider’s stock worth $9,878,248,000 after acquiring an additional 33,992 shares in the last quarter. Cohen & Steers Inc. raised its position in shares of Equinix by 0.5% during the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after purchasing an additional 13,988 shares during the period. Geode Capital Management LLC raised its position in shares of Equinix by 1.2% during the first quarter. Geode Capital Management LLC now owns 2,004,008 shares of the financial services provider’s stock worth $1,441,837,000 after purchasing an additional 23,150 shares during the period. Norges Bank bought a new position in shares of Equinix in the 4th quarter worth $1,574,132,000. Finally, Principal Financial Group Inc. increased its stake in Equinix by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,435,568 shares of the financial services provider’s stock valued at $1,156,193,000 after purchasing an additional 37,150 shares in the last quarter. 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.