Equinix, Inc. (NASDAQ:EQIX) Receives $962.56 Consensus Price Target from Analysts

Equinix, Inc. (NASDAQ:EQIX) has been given an average recommendation of “Moderate Buy” by the twenty brokerages that are presently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $962.56.

A number of analysts have commented on EQIX shares. Evercore ISI increased their price target on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Truist Financial boosted their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the 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 sale, the chairman now owns 7,680 shares in the company, valued at $6,328,089.60. This trade represents a 44.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 8.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,754 shares of company stock worth $11,666,756 over the last quarter. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in Equinix in the 1st quarter valued at about $31,000. GHP Investment Advisors Inc. lifted its stake in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC grew its position 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 purchasing an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Equinix in the second quarter valued at approximately $36,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Trading Down 1.7 %

NASDAQ:EQIX opened at $964.84 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $93.10 billion, a PE ratio of 87.00, a price-to-earnings-growth ratio of 2.53 and a beta of 0.71. The stock’s 50-day moving average is $902.59 and its two-hundred day moving average is $833.34. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio (DPR) is 153.65%.

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.