Equinix, Inc. (NASDAQ:EQIX) Receives $903.80 Consensus Target Price from Analysts

Equinix, Inc. (NASDAQ:EQIX) has been assigned an average rating of “Moderate Buy” from the nineteen brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $907.21.

Several equities analysts recently weighed in on EQIX shares. Evercore ISI upgraded Equinix to a “strong-buy” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Mizuho lifted their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $825.00 to $875.00 in a research report on Tuesday, July 23rd.

Equinix Stock Up 0.1 %

EQIX stock opened at $871.56 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix has a 1-year low of $677.80 and a 1-year high of $914.93. The stock has a market capitalization of $82.72 billion, a P/E ratio of 87.42, a P/E/G ratio of 2.13 and a beta of 0.71. The business has a fifty day moving average price of $846.41 and a 200-day moving average price of $794.98.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $8.04 EPS. The business’s revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Insiders Place Their Bets

In other news, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 in the last ninety days. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

Large investors have recently modified their holdings of the business. Creative Planning increased its holdings in shares of Equinix by 16.7% in the third quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 1,111 shares during the period. Grove Bank & Trust lifted its position in Equinix by 8.1% during the third quarter. Grove Bank & Trust now owns 186 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 14 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Equinix by 15.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 4,617 shares of the financial services provider’s stock valued at $4,098,000 after buying an additional 609 shares during the last quarter. Sapient Capital LLC purchased a new stake in shares of Equinix in the third quarter worth about $252,000. Finally, Paladin Wealth LLC acquired a new stake in Equinix during the third quarter worth about $541,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.