Evercore ISI Boosts Equinix (NASDAQ:EQIX) Price Target to $975.00

Equinix (NASDAQ:EQIX) had its target price hoisted by investment analysts at Evercore ISI from $945.00 to $975.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price target would suggest a potential upside of 10.33% from the company’s current price.

EQIX has been the topic of several other research reports. Truist Financial upped their price target on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and upped their target price for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Wells Fargo & Company upped their price target on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, TD Cowen lifted their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $918.40.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $5.36 during mid-day trading on Wednesday, hitting $883.73. 49,823 shares of the stock were exchanged, compared to its average volume of 525,274. Equinix has a twelve month low of $677.80 and a twelve month high of $914.93. The stock’s fifty day simple moving average is $857.54 and its two-hundred day simple moving average is $798.99. 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 company has a market cap of $83.87 billion, a P/E ratio of 88.81, a PEG ratio of 2.13 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its quarterly 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 for the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $8.04 earnings per share. As a group, analysts forecast that Equinix will post 31.01 EPS for the current fiscal year.

Insider Transactions at Equinix

In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred 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 sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock valued at $8,282,119 over the last three months. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Several institutional investors have recently added to or reduced their stakes in the stock. Dakota Wealth Management raised its position in Equinix by 6.6% in the 3rd quarter. Dakota Wealth Management now owns 8,123 shares of the financial services provider’s stock valued at $7,210,000 after buying an additional 503 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Equinix by 11.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,391 shares of the financial services provider’s stock valued at $3,010,000 after purchasing an additional 357 shares during the last quarter. Yoder Wealth Management Inc. acquired a new stake in shares of Equinix in the third quarter valued at approximately $220,000. CENTRAL TRUST Co lifted its position in shares of Equinix by 396.0% in the third quarter. CENTRAL TRUST Co now owns 1,002 shares of the financial services provider’s stock worth $889,000 after purchasing an additional 800 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Equinix by 36.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 1,336 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 355 shares during the last quarter. 94.94% of the stock is owned by 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.