Equinix (NASDAQ:EQIX) Shares Up 0.5% – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX)’s stock price shot up 0.5% on Tuesday . The company traded as high as $963.00 and last traded at $963.00. 53,067 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 526,190 shares. The stock had previously closed at $957.98.

Analysts Set New Price Targets

EQIX has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Truist Financial raised their price target on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Stifel Nicolaus lifted their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Finally, Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Four 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. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $976.81.

Equinix Trading Down 0.5 %

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market cap of $88.92 billion, a price-to-earnings ratio of 83.10, a PEG ratio of 2.51 and a beta of 0.72. The company has a 50-day moving average price of $924.43 and a 200 day moving average price of $850.04.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.85%. Equinix’s dividend payout ratio (DPR) is presently 153.65%.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 1,726 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the transaction, the insider now owns 6,505 shares in the company, valued at $5,886,959.95. This represents a 20.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the transaction, the director now directly owns 17,794 shares in the company, valued at $15,854,454. This trade represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,398 shares of company stock valued at $7,906,218. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. acquired a new position in Equinix in the 2nd quarter valued at $742,000. Raymond James Financial Services Advisors Inc. increased its stake in Equinix by 6.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 24,159 shares of the financial services provider’s stock valued at $18,279,000 after purchasing an additional 1,403 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Equinix during the second quarter worth $65,000. Slow Capital Inc. raised its position in Equinix by 9.5% in the 2nd quarter. Slow Capital Inc. now owns 4,482 shares of the financial services provider’s stock valued at $3,391,000 after buying an additional 389 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in Equinix by 70.8% in the 2nd quarter. Retirement Systems of Alabama now owns 131,616 shares of the financial services provider’s stock valued at $99,581,000 after purchasing an additional 54,564 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.