Equinix, Inc. (NASDAQ:EQIX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Equinix, Inc. (NASDAQ:EQIX) has been assigned an average rating of “Moderate Buy” from the twenty brokerages that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $944.63.

Several brokerages have recently commented on EQIX. JPMorgan Chase & Co. boosted their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Barclays increased their price target on Equinix from $671.00 to $810.00 and gave the company an “equal weight” rating in a research note on Monday, October 28th. TD Cowen upped their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company raised their price objective on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th.

Insider Activity

In other news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the sale, the executive vice president now directly owns 7,141 shares in the company, valued at approximately $5,862,689.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at approximately $5,862,689.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,632 shares of company stock valued at $10,633,777 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norden Group LLC purchased a new stake in shares of Equinix in the 1st quarter valued at approximately $216,000. Private Advisor Group LLC boosted its holdings in shares of Equinix by 5.6% in the first quarter. Private Advisor Group LLC now owns 931 shares of the financial services provider’s stock valued at $769,000 after acquiring an additional 49 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Equinix by 4.4% in the first quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock valued at $8,102,000 after acquiring an additional 414 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Equinix by 88.9% in the first quarter. Jennison Associates LLC now owns 56,563 shares of the financial services provider’s stock valued at $46,683,000 after acquiring an additional 26,612 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of Equinix by 2.3% in the first quarter. Whittier Trust Co. now owns 1,144 shares of the financial services provider’s stock valued at $944,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock opened at $895.92 on Tuesday. The stock has a 50 day moving average of $871.10 and a two-hundred day moving average of $807.85. The company has a current ratio of 1.16, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. Equinix has a 12 month low of $684.14 and a 12 month high of $943.02. The company has a market capitalization of $86.45 billion, a P/E ratio of 80.79, a P/E/G ratio of 2.18 and a beta of 0.71.

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 12.29% and a return on equity of 8.34%. 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. As a group, equities analysts expect that Equinix will post 31.01 EPS for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.90%. Equinix’s dividend payout ratio is presently 153.65%.

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.