Equinix (NASDAQ:EQIX) Upgraded at Hsbc Global Res

Equinix (NASDAQ:EQIX) was upgraded by stock analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued on Friday, Zacks.com reports.

A number of other research firms also recently weighed in on EQIX. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Mizuho raised their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. upped their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $903.80.

Equinix Price Performance

NASDAQ EQIX opened at $876.88 on Friday. The company has a market cap of $83.22 billion, a P/E ratio of 87.95, a P/E/G ratio of 2.15 and a beta of 0.71. The company has a fifty day simple moving average of $838.25 and a 200 day simple moving average of $793.17. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix has a 1 year low of $677.80 and a 1 year high of $914.93.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $8.04 earnings per share. On average, sell-side analysts predict that Equinix will post 31.01 EPS for the current year.

Insider Activity

In related news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 over the last three months. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Equinix

Hedge funds and other institutional investors have recently bought and sold shares of the business. CNB Bank raised its position in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC bought a new stake in shares of Equinix during the first quarter worth $31,000. Meeder Asset Management Inc. bought a new stake in shares of Equinix during the second quarter worth $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 owned by 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.