Equinix (NASDAQ:EQIX) Receives New Coverage from Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Equinix (NASDAQ:EQIX) in a report issued on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $870.00 price objective on the financial services provider’s stock.

A number of other research firms have also recently weighed in on EQIX. Stifel Nicolaus reaffirmed a buy rating and set a $960.00 price target on shares of Equinix in a report on Wednesday, March 13th. Oppenheimer lifted their price target on Equinix from $875.00 to $950.00 and gave the company an outperform rating in a report on Wednesday, March 20th. Truist Financial lifted their price target on Equinix from $915.00 to $950.00 and gave the company a buy rating in a report on Monday, March 18th. Barclays boosted their target price on Equinix from $669.00 to $671.00 and gave the stock an equal weight rating in a report on Thursday, May 30th. Finally, TD Cowen dropped their target price on Equinix from $862.00 to $859.00 and set a buy rating on the stock in a report on Friday, May 10th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $872.33.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $749.00 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The firm’s 50-day moving average price is $755.68 and its two-hundred day moving average price is $799.11. Equinix has a 52-week low of $677.80 and a 52-week high of $914.93. The stock has a market capitalization of $71.09 billion, a P/E ratio of 75.13, a P/E/G ratio of 2.63 and a beta of 0.68.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now directly owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CNB Bank increased 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 during the period. Valley National Advisers Inc. increased its stake in Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 26 shares during the period. LRI Investments LLC bought a new stake in Equinix during the first quarter worth about $31,000. Criterion Capital Advisors LLC bought a new stake in Equinix during the fourth quarter worth about $32,000. Finally, Rise Advisors LLC bought a new stake in Equinix during the first quarter worth about $39,000. Institutional investors own 94.94% of the company’s stock.

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.