Equinix’s (EQIX) Market Outperform Rating Reiterated at JMP Securities

Equinix (NASDAQ:EQIX)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report issued on Thursday,Benzinga reports. They currently have a $1,200.00 price objective on the financial services provider’s stock. JMP Securities’ price objective would indicate a potential upside of 28.29% from the stock’s current price.

EQIX has been the topic of a number of other reports. Truist Financial upped their target price on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. BMO Capital Markets raised their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Scotiabank increased their price objective on shares of Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research note on Thursday, January 23rd. Finally, Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix currently has an average rating of “Moderate Buy” and a consensus price target of $996.06.

Equinix Stock Down 0.1 %

Equinix stock traded down $1.11 during mid-day trading on Thursday, reaching $935.39. The stock had a trading volume of 26,345 shares, compared to its average volume of 493,815. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock’s 50-day simple moving average is $940.14 and its 200-day simple moving average is $889.47. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $90.26 billion, a PE ratio of 84.34, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. The trade was a 27.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the transaction, the insider now directly owns 1,015 shares of the company’s stock, valued at $976,633. This trade represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,823 shares of company stock valued at $16,474,442 in the last ninety days. 0.27% of the stock is owned by company insiders.

Institutional Trading of Equinix

Several large investors have recently added to or reduced their stakes in the company. Inspire Trust Co. N.A. lifted its stake in shares of Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock valued at $1,509,000 after purchasing an additional 11 shares during the period. Rothschild Investment LLC grew its stake in shares of Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock valued at $543,000 after buying an additional 11 shares during the period. GS Investments Inc. raised its position in Equinix by 0.5% in the third quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock valued at $2,087,000 after purchasing an additional 12 shares during the period. Ritholtz Wealth Management boosted its position in shares of Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 12 shares during the period. Finally, Great Lakes Retirement Inc. increased its stake in Equinix by 1.2% during the fourth quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 12 shares during the period. 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.