Equinix (NASDAQ:EQIX) Stock Rating Upgraded by Evercore ISI

Equinix (NASDAQ:EQIX) was upgraded by investment analysts at Evercore ISI to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks.com reports.

A number of other research analysts have also recently commented on EQIX. Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. raised their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective 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. Finally, Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average price target of $897.13.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $876.22 on Wednesday. Equinix has a 1 year low of $677.80 and a 1 year high of $914.93. The stock has a market capitalization of $83.16 billion, a price-to-earnings ratio of 87.89, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The company’s 50 day simple moving average is $836.16 and its 200 day simple moving average is $793.05.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) 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 business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the business posted $8.04 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts predict that Equinix will post 31.01 EPS for the current fiscal year.

Insider Transactions at Equinix

In related news, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jonathan Lin sold 93 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 over the last ninety days. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

Several institutional investors and hedge funds have recently bought and sold shares of EQIX. Swedbank AB bought a new position in Equinix during the first quarter valued at $294,526,000. Principal Financial Group Inc. boosted its holdings 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 worth $1,428,606,000 after acquiring an additional 238,883 shares during the period. Vanguard Group Inc. boosted its holdings 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 worth $10,319,917,000 after acquiring an additional 238,815 shares during the period. M&G Plc bought a new position in shares of Equinix in the first quarter worth $187,089,000. Finally, Quadrature Capital Ltd bought a new position in shares of Equinix in the first quarter worth $145,308,000. 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.