Equinix (NASDAQ:EQIX) Price Target Raised to $984.00

Equinix (NASDAQ:EQIX) had its price target boosted by TD Cowen from $865.00 to $984.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research firms also recently commented on EQIX. Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Evercore ISI boosted their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average target price of $944.63.

Equinix Stock Down 2.2 %

EQIX opened at $888.30 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.22. Equinix has a 12 month low of $684.14 and a 12 month high of $943.02. The stock has a market capitalization of $85.71 billion, a P/E ratio of 80.10, a P/E/G ratio of 2.18 and a beta of 0.71. The business has a 50 day simple moving average of $869.56 and a 200-day simple moving average of $806.24.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. Equinix’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business posted $8.04 EPS. On average, equities analysts anticipate that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brandi Galvin Morandi sold 863 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,906 shares of company stock worth $9,071,764. 0.27% of the stock is owned by insiders.

Institutional Trading of Equinix

Institutional investors have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. raised its position in shares of Equinix by 4.4% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 494 shares of the financial services provider’s stock worth $439,000 after buying an additional 21 shares during the period. Sustainable Insight Capital Management LLC grew its position in Equinix by 40.3% during the third quarter. Sustainable Insight Capital Management LLC now owns 561 shares of the financial services provider’s stock valued at $498,000 after acquiring an additional 161 shares during the period. Atria Investments Inc increased its stake in Equinix by 14.0% during the third quarter. Atria Investments Inc now owns 8,495 shares of the financial services provider’s stock worth $7,541,000 after acquiring an additional 1,042 shares during the last quarter. Essex Savings Bank purchased a new position in shares of Equinix in the 3rd quarter worth about $215,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Equinix by 12.4% in the 3rd quarter. Lindbrook Capital LLC now owns 543 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 60 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.