Equinix (NASDAQ:EQIX) Trading Up 0.7% After Analyst Upgrade

Equinix, Inc. (NASDAQ:EQIX) shares were up 0.7% during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $936.00 to $1,025.00. Royal Bank of Canada currently has an outperform rating on the stock. Equinix traded as high as $974.30 and last traded at $968.26. Approximately 61,257 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 528,434 shares. The stock had previously closed at $961.72.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Tuesday. TD Cowen boosted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Evercore ISI upped their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted 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, Scotiabank increased their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $976.81.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares in the company, valued at $15,854,454. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares in the company, valued at $2,951,211.78. This trade represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,398 shares of company stock worth $7,906,218 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Several large investors have recently bought and sold shares of the business. GHP Investment Advisors Inc. lifted its position in Equinix by 50.0% during 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 last quarter. Fortitude Family Office LLC grew its position 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 acquiring an additional 13 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Equinix in the second quarter worth about $36,000. Sugarloaf Wealth Management LLC increased its stake in Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares during the last quarter. Finally, Dunhill Financial LLC raised its position in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

The firm has a market capitalization of $94.10 billion, a P/E ratio of 87.94, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a 50 day moving average price of $916.16 and a 200-day moving average price of $843.28.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 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.