Equinix (NASDAQ:EQIX) Price Target Raised to $1,020.00

Equinix (NASDAQ:EQIX) had its target price increased by BMO Capital Markets from $975.00 to $1,020.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Mizuho boosted their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. TD Cowen upped their price objective on Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. HSBC raised Equinix from a “hold” rating to a “buy” rating and upped their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, Barclays lifted their price objective on Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $944.63.

Equinix Stock Down 2.2 %

Shares of EQIX opened at $888.30 on Thursday. The company has a market capitalization of $85.71 billion, a P/E ratio of 80.10, a PEG ratio of 2.18 and a beta of 0.71. Equinix has a one year low of $684.14 and a one year high of $943.02. The business’s 50 day simple moving average is $869.56 and its 200-day simple moving average is $806.24. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.22.

Equinix (NASDAQ:EQIX) last posted 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 return on equity of 8.34% and a net margin of 12.29%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm posted $8.04 EPS. Equinix’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that Equinix will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.92%. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Insider Activity

In related news, insider Meredith Williamson sold 576 shares of the 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. The trade was 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 the SEC website. Also, insider Meredith Williamson sold 576 shares of Equinix stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock worth $9,071,764 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Institutional investors have recently made changes to their positions in the business. CNB Bank increased its stake in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Equinix in the first quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Equinix during the second quarter worth about $30,000. GHP Investment Advisors Inc. boosted 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. 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 valued at $35,000 after purchasing an additional 13 shares in 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.