Evercore ISI Boosts Equinix (NASDAQ:EQIX) Price Target to $975.00

Equinix (NASDAQ:EQIX) had its price objective upped by analysts at Evercore ISI from $945.00 to $975.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Evercore ISI’s price target would suggest a potential upside of 8.85% from the company’s current price.

Several other equities research analysts also recently weighed in on EQIX. Deutsche Bank Aktiengesellschaft increased their price target on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Mizuho increased their price objective on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. The Goldman Sachs Group increased 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. JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, TD Cowen increased their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $918.40.

Equinix Price Performance

EQIX stock opened at $895.76 on Wednesday. The company has a market capitalization of $85.01 billion, a P/E ratio of 89.85, a PEG ratio of 2.13 and a beta of 0.71. Equinix has a twelve month low of $677.80 and a twelve month high of $914.93. The business has a 50 day simple moving average of $858.53 and a 200-day simple moving average of $799.63. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last posted 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 firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company posted $8.04 earnings per share. Equinix’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Equinix will post 31.01 EPS for the current year.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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 of the company’s stock, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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 of the company’s stock, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock valued at $8,282,119 in the last 90 days. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cypress Capital Group raised its stake in shares of Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares in the last quarter. MRA Advisory Group raised its position in Equinix by 3.2% in the 2nd quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares during the last quarter. GHP Investment Advisors Inc. raised its position in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Banco Santander S.A. increased its stake in shares of Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after buying an additional 14 shares during the period. Finally, Abbrea Capital LLC increased its stake in shares of Equinix by 5.5% in the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock valued at $204,000 after buying an additional 14 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.