Equinix (NASDAQ:EQIX) Price Target Raised to $810.00

Equinix (NASDAQ:EQIX) had its price target lifted by Barclays from $671.00 to $810.00 in a report published on Monday, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other research firms have also weighed in on EQIX. Truist Financial raised their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft upped their price objective on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. 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 report on Thursday, August 8th. Finally, The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $927.67.

Equinix Stock Up 0.5 %

EQIX stock opened at $910.22 on Monday. The company’s 50 day moving average is $866.57 and its two-hundred day moving average is $804.08. Equinix has a twelve month low of $684.14 and a twelve month high of $943.02. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market cap of $86.39 billion, a P/E ratio of 91.30, a PEG ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its quarterly 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 return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the business earned $8.04 earnings per share. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts expect that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Insiders Place Their Bets

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated 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 owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,906 shares of company stock worth $9,071,764 in the last quarter. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several hedge funds and other institutional investors have recently bought and sold shares of EQIX. Cypress Capital Group raised its stake in 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 buying an additional 13 shares during the period. MRA Advisory Group increased its stake in Equinix by 3.2% during the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Finally, Banco Santander S.A. increased its position in shares of Equinix by 2.0% during the first 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 in the last quarter. 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.