Equinix (NASDAQ:EQIX) Price Target Raised to $1,114.00

Equinix (NASDAQ:EQIX) had its price objective increased by stock analysts at Scotiabank from $985.00 to $1,114.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would suggest a potential upside of 19.13% from the company’s current price.

Several other equities research analysts have also commented on EQIX. Truist Financial boosted their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Wells Fargo & Company lifted their target price on shares of Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. TD Cowen lifted their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Three research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $984.88.

Equinix Price Performance

Shares of NASDAQ EQIX traded up $9.87 during midday trading on Thursday, hitting $935.10. The company had a trading volume of 95,367 shares, compared to its average volume of 494,313. The firm has a market capitalization of $90.23 billion, a price-to-earnings ratio of 84.46, a price-to-earnings-growth ratio of 2.22 and a beta of 0.73. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The business has a 50-day simple moving average of $942.79 and a two-hundred day simple moving average of $880.36. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction that occurred 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 sale, the insider now owns 8,231 shares in the company, valued at $7,531,365. This trade represents a 9.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Raouf Abdel sold 1,022 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the transaction, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,412 shares of company stock worth $18,826,100. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Equinix by 302.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after buying an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after acquiring an additional 398,494 shares during the last quarter. Adelante Capital Management LLC increased its position in shares of Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock worth $456,441,000 after purchasing an additional 344,114 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Equinix by 17.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Equinix by 104.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider’s stock worth $238,133,000 after purchasing an additional 160,906 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.