Wells Fargo & Company Increases Equinix (NASDAQ:EQIX) Price Target to $975.00

Equinix (NASDAQ:EQIX) had its target price upped by analysts at Wells Fargo & Company from $875.00 to $975.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.91% from the company’s previous close.

Several other brokerages also recently commented on EQIX. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. 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. 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, October 1st. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $914.36.

Equinix Trading Up 0.7 %

Shares of EQIX stock opened at $895.20 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The firm’s 50 day moving average price is $855.35 and its two-hundred day moving average price is $797.53. The stock has a market cap of $84.96 billion, a price-to-earnings ratio of 89.79, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its earnings results 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). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the firm posted $8.04 EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, analysts anticipate that Equinix will post 31.01 EPS for the current year.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction dated 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 sale, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. 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. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of hedge funds have recently made changes to their positions in EQIX. Fisher Asset Management LLC bought a new stake in Equinix during the 4th quarter valued at $381,000. HighPoint Advisor Group LLC acquired a new stake in Equinix in the fourth quarter worth about $471,000. Los Angeles Capital Management LLC lifted its holdings in Equinix by 0.3% in the first quarter. Los Angeles Capital Management LLC now owns 14,199 shares of the financial services provider’s stock worth $11,719,000 after purchasing an additional 36 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Equinix by 308.3% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 788 shares of the financial services provider’s stock valued at $650,000 after buying an additional 595 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Equinix by 5.1% during the 1st quarter. Wedmont Private Capital now owns 915 shares of the financial services provider’s stock valued at $733,000 after buying an additional 44 shares during the period. Institutional investors own 94.94% of the company’s stock.

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.