Equinix (NASDAQ:EQIX) Sets New 12-Month High – Here’s What Happened

Equinix, Inc. (NASDAQ:EQIX) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $916.85 and last traded at $916.85, with a volume of 122633 shares. The stock had previously closed at $895.76.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EQIX shares. JPMorgan Chase & Co. raised their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Evercore ISI raised their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday. The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $918.40.

Equinix Stock Up 2.1 %

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 business’s 50 day simple moving average is $861.56 and its 200 day simple moving average is $801.17. The company has a market capitalization of $86.81 billion, a PE ratio of 83.73, a P/E/G ratio of 2.11 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the firm earned $8.04 earnings per share. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, analysts anticipate that Equinix, Inc. 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. Shareholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 156.04%.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred on 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 in the company, valued at approximately $7,729,900. The trade was 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. In related news, insider Brandi Galvin Morandi sold 864 shares of Equinix stock in a transaction that occurred on 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 in the company, valued at approximately $7,729,900. The trade was 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, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock worth $8,282,119 over the last three months. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Institutional investors have recently modified their holdings of the stock. CNB Bank lifted its position in shares of Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Equinix during the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $30,000. GHP Investment Advisors Inc. lifted its position in shares of Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the last quarter. 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.