Equinix, Inc. (NASDAQ:EQIX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Equinix, Inc. (NASDAQ:EQIX) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $872.33.

A number of research firms have issued reports on EQIX. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday. They issued a “buy” rating and a $870.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Oppenheimer increased their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Royal Bank of Canada cut their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th. Finally, HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a report on Wednesday, March 20th.

Equinix Price Performance

NASDAQ:EQIX opened at $756.38 on Wednesday. The firm has a market cap of $71.79 billion, a price-to-earnings ratio of 75.87, 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 company’s 50-day moving average is $755.95 and its two-hundred day moving average is $799.79. Equinix has a 12-month low of $677.80 and a 12-month high of $914.93.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is 170.91%.

Insider Buying and Selling at Equinix

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

Institutional Trading of Equinix

A number of hedge funds have recently made changes to their positions in the stock. Marcum Wealth LLC boosted its holdings in Equinix by 12.8% in the second quarter. Marcum Wealth LLC now owns 732 shares of the financial services provider’s stock worth $554,000 after purchasing an additional 83 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in Equinix by 29.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,023 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 235 shares during the period. GAMMA Investing LLC boosted its holdings in Equinix by 6.5% in the second quarter. GAMMA Investing LLC now owns 674 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 41 shares during the period. Appleton Partners Inc. MA boosted its holdings in Equinix by 1.1% in the second quarter. Appleton Partners Inc. MA now owns 15,335 shares of the financial services provider’s stock worth $11,602,000 after purchasing an additional 167 shares during the period. Finally, Pensionfund DSM Netherlands boosted its holdings in Equinix by 9.4% in the second quarter. Pensionfund DSM Netherlands now owns 11,614 shares of the financial services provider’s stock worth $8,787,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds 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.