Mizuho Increases Equinix (NASDAQ:EQIX) Price Target to $971.00

Equinix (NASDAQ:EQIX) had its price objective boosted by analysts at Mizuho from $873.00 to $971.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price objective suggests a potential upside of 11.41% from the company’s previous close.

Several other brokerages have also recently commented on EQIX. Deutsche Bank Aktiengesellschaft upped their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Barclays boosted their price target on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. TD Cowen boosted their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price target on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $883.71.

Equinix Stock Performance

Shares of EQIX stock opened at $871.54 on Thursday. The business’s 50 day simple moving average is $811.47 and its 200 day simple moving average is $794.10. Equinix has a one year low of $677.80 and a one year high of $914.93. The stock has a market capitalization of $82.74 billion, a PE ratio of 87.42, a PEG ratio of 2.11 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company earned $8.04 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts forecast that Equinix will post 31.01 earnings per share for the current year.

Insider Activity at Equinix

In related news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was 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 directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Brandi Galvin Morandi sold 864 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. In the last three months, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of EQIX. Cypress Capital Group grew its stake in shares of Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 13 shares during the period. MRA Advisory Group grew its stake in shares of Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 13 shares during the period. Lindbrook Capital LLC grew its stake in shares of Equinix by 3.0% during the 1st quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 14 shares during the period. Banco Santander S.A. grew its stake in shares of Equinix by 2.0% during the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 14 shares during the period. Finally, Abbrea Capital LLC grew its stake in shares of Equinix by 5.5% during the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 14 shares during the period. 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.