Equinix (NASDAQ:EQIX) Stock Price Expected to Rise, Scotiabank Analyst Says

Equinix (NASDAQ:EQIX) had its price target raised by Scotiabank from $954.00 to $985.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a sector outperform rating on the financial services provider’s stock.

EQIX has been the topic of a number of other research reports. The Goldman Sachs Group boosted their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and increased their price target for the stock from $865.00 to $1,000.00 in a 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. Finally, Barclays increased their price objective on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $944.63.

Equinix Price Performance

Shares of EQIX traded down $4.49 during mid-day trading on Thursday, reaching $903.59. The company had a trading volume of 126,489 shares, compared to its average volume of 528,235. The company has a market capitalization of $85.79 billion, a price-to-earnings ratio of 81.88, a P/E/G ratio of 2.19 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 company’s 50 day simple moving average is $868.35 and its 200 day simple moving average is $804.80. Equinix has a 1-year low of $684.14 and a 1-year high of $943.02.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results 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 12.29% and a return on equity of 8.55%. Equinix’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $8.04 EPS. Analysts expect that Equinix will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the sale, the insider now directly owns 8,231 shares of the company’s stock, valued at $7,531,365. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents 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 10,906 shares of company stock worth $9,071,764 in the last ninety days. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CNB Bank lifted its position in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix in the second quarter worth $30,000. LRI Investments LLC purchased a new position in shares of Equinix in the 1st quarter worth about $31,000. GHP Investment Advisors Inc. increased its stake in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.