Equinix (NASDAQ:EQIX) Receives New Coverage from Analysts at The Goldman Sachs Group

Equities research analysts at The Goldman Sachs Group initiated coverage on shares of Equinix (NASDAQ:EQIX) in a note issued to investors on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $870.00 price target on the financial services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 14.99% from the stock’s previous close.

A number of other equities analysts have also commented on the company. Royal Bank of Canada cut their price objective on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Morgan Stanley decreased their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Barclays boosted their price objective on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. TD Cowen decreased their price objective on Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, Oppenheimer boosted their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $872.33.

Equinix Stock Performance

NASDAQ:EQIX opened at $756.60 on Monday. The stock has a market cap of $71.81 billion, a P/E ratio of 75.89, a price-to-earnings-growth ratio of 2.63 and a beta of 0.68. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock’s 50-day moving average is $755.85 and its 200-day moving average is $800.12. Equinix has a 1-year low of $677.80 and a 1-year high of $914.93.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently modified their holdings of EQIX. Ancora Advisors LLC increased its position in shares of Equinix by 12.5% during the 3rd quarter. Ancora Advisors LLC now owns 369 shares of the financial services provider’s stock valued at $268,000 after purchasing an additional 41 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Equinix by 4.6% during the 3rd quarter. AQR Capital Management LLC now owns 24,697 shares of the financial services provider’s stock valued at $17,937,000 after purchasing an additional 1,095 shares during the last quarter. Truist Financial Corp increased its position in shares of Equinix by 44.6% during the 3rd quarter. Truist Financial Corp now owns 18,215 shares of the financial services provider’s stock valued at $13,229,000 after purchasing an additional 5,620 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Equinix by 27.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock valued at $313,461,000 after purchasing an additional 92,575 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Equinix by 15.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 128,068 shares of the financial services provider’s stock worth $93,011,000 after acquiring an additional 16,900 shares during 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.