Equinix (NASDAQ:EQIX) PT Raised to $980.00 at The Goldman Sachs Group

Equinix (NASDAQ:EQIX) had its target price upped by The Goldman Sachs Group from $870.00 to $980.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other brokerages have also commented on EQIX. Barclays raised their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an equal weight rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Equinix from $880.00 to $910.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Wells Fargo & Company upgraded shares of Equinix from an equal weight rating to an overweight rating and increased their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Truist Financial raised their price target on Equinix from $915.00 to $935.00 and gave the stock a buy rating in a research note on Wednesday, August 21st. Finally, TD Cowen increased their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $891.57.

Equinix Trading Up 0.4 %

Shares of Equinix stock opened at $882.69 on Thursday. The stock has a market capitalization of $83.77 billion, a P/E ratio of 88.53, a P/E/G ratio of 2.15 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50-day simple moving average is $828.80 and its 200 day simple moving average is $791.42. Equinix has a 52-week low of $677.80 and a 52-week high of $914.93.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $8.04 EPS. As a group, research analysts anticipate that Equinix will post 31.01 EPS for the current year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.93%. Equinix’s payout ratio is 170.91%.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at $7,729,900. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several large investors have recently bought and sold shares of EQIX. CNB Bank raised its position in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Equinix during the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix in the second quarter valued at $30,000. Rise Advisors LLC acquired a new stake in shares of Equinix in the first quarter valued at about $39,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $36,000. 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.