TD Cowen Raises Equinix (NASDAQ:EQIX) Price Target to $984.00

Equinix (NASDAQ:EQIX) had its price objective upped by TD Cowen from $865.00 to $984.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. TD Cowen’s target price would suggest a potential upside of 10.77% from the company’s current price.

Other analysts have also recently issued reports about the stock. Mizuho lifted their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, BMO Capital Markets lifted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Stock Performance

Shares of EQIX opened at $888.30 on Thursday. The company’s 50 day moving average price is $869.56 and its 200 day moving average price is $805.80. Equinix has a 52 week low of $684.14 and a 52 week high of $943.02. The company has a market capitalization of $84.34 billion, a PE ratio of 80.10, a PEG ratio of 2.19 and a beta of 0.71. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data 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 net margin of 12.29% and a return on equity of 8.55%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $8.04 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts expect that Equinix will post 31.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 863 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now directly owns 8,231 shares in the company, valued at $7,531,365. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,906 shares of company stock valued at $9,071,764. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

Several institutional investors and hedge funds have recently bought and sold shares of EQIX. CNB Bank grew its holdings in shares of Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Equinix in the 2nd quarter worth about $30,000. LRI Investments LLC bought a new stake in shares of Equinix in the 1st quarter worth about $31,000. GHP Investment Advisors Inc. grew its holdings in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC grew its holdings in shares of Equinix by 50.0% in the 3rd 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 during the last quarter. 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.