Truist Financial Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price target boosted by investment analysts at Truist Financial from $935.00 to $1,090.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 11.06% from the company’s previous close.

Several other equities research analysts have also recently issued reports on EQIX. Scotiabank lifted their price objective on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wells Fargo & Company increased their price objective on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $962.56.

Equinix Stock Up 0.2 %

Shares of EQIX opened at $981.48 on Friday. The business’s 50 day moving average is $902.59 and its 200 day moving average is $833.17. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a market capitalization of $94.70 billion, a PE ratio of 88.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.71.

Insider Buying and Selling at Equinix

In other news, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Earl Campbell sold 600 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $816.73, for a total value of $490,038.00. Following the completion of the sale, the insider now owns 14,800 shares in the company, valued at approximately $12,087,604. The trade was a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 over the last quarter. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Large investors have recently made changes to their positions in the stock. GS Investments Inc. lifted its holdings in Equinix by 0.5% during the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after buying an additional 12 shares in the last quarter. Cypress Capital Group raised its stake in shares of Equinix by 2.3% during the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares in the last quarter. MRA Advisory Group raised its stake in shares of Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 13 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in shares of Equinix by 50.0% in the third 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 period. Finally, Fortitude Family Office LLC grew its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other 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.