Equinix (NASDAQ:EQIX) PT Raised to $975.00

Equinix (NASDAQ:EQIX) had its price objective upped by JPMorgan Chase & Co. from $950.00 to $975.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.84% from the stock’s current price.

EQIX has been the topic of several other reports. Mizuho upped their price objective on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. The Goldman Sachs Group increased their price target on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, Truist Financial increased their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $897.13.

Equinix Stock Performance

EQIX traded up $0.06 on Tuesday, hitting $887.69. 183,481 shares of the stock traded hands, compared to its average volume of 543,051. Equinix has a 52 week low of $677.80 and a 52 week high of $914.93. 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 firm has a market capitalization of $84.25 billion, a PE ratio of 88.73, a P/E/G ratio of 2.15 and a beta of 0.71. The business has a fifty day moving average price of $830.58 and a two-hundred day moving average price of $791.58.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data 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 company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $8.04 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts predict that Equinix will post 31.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Earl Campbell sold 600 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $816.73, for a total value of $490,038.00. Following the completion of the transaction, the insider now owns 14,800 shares of the company’s stock, valued at approximately $12,087,604. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several hedge funds have recently bought and sold shares of EQIX. Swedbank AB acquired a new stake in Equinix during the first quarter worth approximately $294,526,000. Principal Financial Group Inc. raised its position in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after buying an additional 238,883 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after buying an additional 238,815 shares in the last quarter. M&G Plc acquired a new stake in shares of Equinix in the first quarter valued at approximately $187,089,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Equinix in the first quarter valued at approximately $145,308,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.