Brokerages Set Equinix, Inc. (NASDAQ:EQIX) PT at $976.81

Shares of Equinix, Inc. (NASDAQ:EQIX) have earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat.com reports. Three investment 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 1 year price target among brokerages that have updated their coverage on the stock in the last year is $984.88.

Several analysts have issued reports on EQIX shares. Evercore ISI increased their price objective on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Stifel Nicolaus raised their price target on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Truist Financial raised their price objective on shares of Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, HSBC raised Equinix from a “hold” rating to a “buy” rating and boosted their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now directly owns 4,329 shares of the company’s stock, valued at $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred on Friday, November 8th. The stock was 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 in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,549 shares of company stock worth $18,036,455. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in Equinix by 9.2% in the 3rd 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 in the last quarter. Brookfield Corp ON increased its position in shares of Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after acquiring an additional 32,481 shares in the last quarter. E. Ohman J or Asset Management AB raised its holdings in shares of 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 acquiring an additional 1,103 shares during the period. Duff & Phelps Investment Management Co. lifted its position in shares of Equinix by 25.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock valued at $279,516,000 after acquiring an additional 75,888 shares in the last quarter. Finally, Thematics Asset Management boosted its stake in Equinix by 17.7% in the 3rd quarter. Thematics Asset Management now owns 39,951 shares of the financial services provider’s stock worth $35,462,000 after purchasing an additional 6,000 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Up 1.7 %

NASDAQ:EQIX opened at $940.93 on Friday. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The business’s 50-day moving average is $942.79 and its two-hundred day moving average is $880.36. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $90.79 billion, a PE ratio of 84.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.73.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

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.