Equinix (NASDAQ:EQIX) Price Target Raised to $834.00

Equinix (NASDAQ:EQIX) had its price objective boosted by Barclays from $822.00 to $834.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada increased their price target on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Scotiabank upped their price objective on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Truist Financial decreased their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Wells Fargo & Company decreased their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $990.06.

Equinix Price Performance

EQIX opened at $834.59 on Thursday. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $903.56 and its 200-day simple moving average is $908.81. The company has a market capitalization of $81.23 billion, a price-to-earnings ratio of 97.61, a PEG ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. On average, equities research analysts anticipate that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.25%. The ex-dividend date was Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insider Activity

In other news, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This represents a 27.53 % 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, CFO Keith D. Taylor sold 3,184 shares of the company’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the sale, the chief financial officer now directly owns 22,076 shares in the company, valued at $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 in the last ninety days. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several large investors have recently made changes to their positions in the business. Inspire Trust Co. N.A. boosted its holdings in shares of Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 11 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after purchasing an additional 11 shares during the period. Legacy Financial Advisors Inc. lifted its stake in shares of Equinix by 3.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 11 shares during the period. GS Investments Inc. lifted its stake in shares of Equinix by 0.5% in the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after purchasing an additional 12 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of Equinix by 1.8% in the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock valued at $633,000 after purchasing an additional 12 shares during the period. 94.94% of the stock is owned by hedge funds and other 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.