Equinix (NASDAQ:EQIX) Rating Reiterated by Cfra

Equinix (NASDAQ:EQIX)‘s stock had its “hold” rating restated by research analysts at Cfra in a report issued on Tuesday, Benzinga reports.

A number of other analysts have also issued reports on EQIX. TD Cowen lifted their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Barclays raised their target price on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Truist Financial lifted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Mizuho lifted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus target price of $883.71.

Equinix Price Performance

NASDAQ EQIX traded up $10.08 during trading hours on Tuesday, reaching $892.00. The company’s stock had a trading volume of 133,636 shares, compared to its average volume of 544,156. The stock has a market cap of $84.66 billion, a PE ratio of 89.37, a PEG ratio of 2.11 and a beta of 0.71. Equinix has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company’s 50-day moving average is $821.97 and its two-hundred day moving average is $791.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

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

Insider Activity at Equinix

In other news, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Simon Miller sold 569 shares of the company’s stock in a transaction that occurred 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 transaction, 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 accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. 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 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Institutional investors have recently bought and sold shares of the business. CNB Bank increased its holdings in Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Equinix during the 2nd quarter worth approximately $30,000. LRI Investments LLC purchased a new position in Equinix in the 1st quarter valued at approximately $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Equinix in the 2nd quarter valued at $36,000. Finally, Rise Advisors LLC acquired a new stake in Equinix during the 1st quarter worth $39,000. 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.