Equinix, Inc. (NASDAQ:EQIX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Equinix, Inc. (NASDAQ:EQIX) have been assigned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $883.71.

Several analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 target price on the stock. TD Cowen upped their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada dropped their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, Truist Financial raised their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st.

Equinix Stock Up 0.3 %

EQIX stock opened at $871.54 on Monday. Equinix has a 12 month low of $677.80 and a 12 month high of $914.93. The firm has a market cap of $82.74 billion, a PE ratio of 87.42, a P/E/G ratio of 2.11 and a beta of 0.71. The firm has a 50 day simple moving average of $811.47 and a 200 day simple moving average of $792.85. 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 issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $8.04 EPS. Equities research analysts forecast that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.96%. Equinix’s dividend payout ratio (DPR) is 170.91%.

Insider Transactions at Equinix

In other news, CAO Simon Miller sold 569 shares of the company’s 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 sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. The sale was disclosed in a filing 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 dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The disclosure for this sale can be found here. Insiders have sold a total of 10,043 shares of company stock worth $8,282,119 over the last ninety days. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. CNB Bank lifted its position in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix during the 2nd quarter worth about $30,000. LRI Investments LLC acquired a new position in Equinix during the 1st quarter worth $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Equinix during the 2nd quarter worth approximately $36,000. Finally, Rise Advisors LLC acquired a new stake in shares of Equinix during the first quarter worth $39,000. 94.94% of the stock is currently owned by hedge funds and other 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.