Equinix (NASDAQ:EQIX) Upgraded to Strong-Buy at Citizens Jmp

Citizens Jmp upgraded shares of Equinix (NASDAQ:EQIX) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Several other equities analysts also recently weighed in on the stock. JMP Securities began coverage on shares of Equinix in a research note on Monday. They issued an “outperform” rating and a $1,200.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. BMO Capital Markets upped their price target on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus upped their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average price target of $997.53.

Equinix Price Performance

Equinix stock opened at $900.10 on Monday. The business’s 50 day simple moving average is $944.51 and its 200 day simple moving average is $883.61. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a market cap of $86.85 billion, a price-to-earnings ratio of 81.16, a PEG ratio of 2.20 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. Equinix’s dividend payout ratio is presently 153.65%.

Insider Activity

In related news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the sale, the chief financial officer now directly owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,549 shares of company stock valued at $18,036,455. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of hedge funds have recently made changes to their positions in EQIX. Inspire Trust Co. N.A. raised its position in shares of Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 11 shares during the last quarter. GS Investments Inc. lifted its position in Equinix by 0.5% in the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after acquiring an additional 12 shares in the last quarter. Ritholtz Wealth Management boosted its stake in Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 12 shares during the last quarter. GHP Investment Advisors Inc. boosted 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 during the last quarter. Finally, Fortitude Family Office LLC raised 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 purchasing an additional 13 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

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.