Equinix (NASDAQ:EQIX) Upgraded to Outperform at Wolfe Research

Equinix (NASDAQ:EQIX) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Thursday, MarketBeat.com reports. The brokerage presently has a $978.00 price objective on the financial services provider’s stock. Wolfe Research’s price objective indicates a potential upside of 21.79% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Oppenheimer increased their price objective on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company lowered their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. BMO Capital Markets dropped their target price on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, Royal Bank of Canada boosted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $1,007.59.

Equinix Trading Down 2.7 %

Shares of EQIX opened at $803.00 on Thursday. The business’s 50-day moving average price is $895.96 and its 200 day moving average price is $908.43. 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 stock has a market capitalization of $78.16 billion, a P/E ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Analysts expect that Equinix will post 33.1 earnings per share for the current year.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 2,454 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the sale, the chief financial officer now directly owns 24,402 shares of the company’s stock, valued at approximately $22,677,754.68. This trade represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the period. Larson Financial Group LLC raised its holdings in shares of Equinix by 80.0% in the 3rd quarter. Larson Financial Group LLC now owns 108 shares of the financial services provider’s stock worth $96,000 after buying an additional 48 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Equinix by 3,780.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 194 shares of the financial services provider’s stock worth $172,000 after buying an additional 189 shares during the period. Brown Brothers Harriman & Co. boosted its stake in Equinix by 20.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 151 shares of the financial services provider’s stock valued at $134,000 after buying an additional 26 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Equinix by 2.6% in the third quarter. The Manufacturers Life Insurance Company now owns 68,247 shares of the financial services provider’s stock valued at $60,578,000 after acquiring an additional 1,761 shares during the period. 94.94% of the stock is currently owned by institutional investors.

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.