Truist Financial Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its target price upped by Truist Financial from $935.00 to $1,090.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts have also commented on the company. Cfra reaffirmed a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Wells Fargo & Company increased their target price on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Barclays boosted their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $962.56.

Equinix Trading Up 0.2 %

NASDAQ EQIX opened at $981.48 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix has a one year low of $684.14 and a one year high of $994.03. The company has a 50-day simple moving average of $902.59 and a 200-day simple moving average of $832.87. The firm has a market capitalization of $94.70 billion, a PE ratio of 88.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.71.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. Equinix’s dividend payout ratio (DPR) is 153.65%.

Insider Activity at Equinix

In other news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 99.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,754 shares of company stock valued at $11,666,756 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Institutional investors and hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix in the 2nd quarter worth about $30,000. LRI Investments LLC acquired a new position in shares of Equinix in the first quarter worth about $31,000. GHP Investment Advisors Inc. increased its position in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Equinix in the 2nd quarter valued at approximately $36,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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.