Equinix, Inc. (NASDAQ:EQIX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Equinix, Inc. (NASDAQ:EQIX) have been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $976.81.

A number of equities research analysts have weighed in on the company. Scotiabank raised their price target on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a research report on Thursday, October 31st. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Cfra reiterated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, The Goldman Sachs Group increased their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th.

Insiders Place Their Bets

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equinix

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the period. Brookfield Corp ON grew its stake in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after buying an additional 32,481 shares during the last quarter. E. Ohman J or Asset Management AB raised its stake in Equinix by 3.0% during the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock valued at $33,215,000 after buying an additional 1,103 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Equinix by 25.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after acquiring an additional 75,888 shares in the last quarter. Finally, Thematics Asset Management boosted its holdings in Equinix by 17.7% in the third quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after acquiring an additional 6,000 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Equinix stock opened at $950.01 on Wednesday. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm’s fifty day moving average price is $928.03 and its 200-day moving average price is $854.28. The stock has a market cap of $91.66 billion, a P/E ratio of 85.66, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.79%. 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.