Equinix (NASDAQ:EQIX) Price Target Raised to $834.00 at Barclays

Equinix (NASDAQ:EQIX) had its target price boosted by Barclays from $822.00 to $834.00 in a report released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on EQIX. Wells Fargo & Company dropped their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Truist Financial dropped their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Oppenheimer increased their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $990.06.

Equinix Stock Down 0.4 %

NASDAQ:EQIX opened at $851.72 on Thursday. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The stock’s fifty day moving average is $904.87 and its two-hundred day moving average is $908.27. The stock has a market capitalization of $82.90 billion, a price-to-earnings ratio of 99.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Research analysts anticipate that Equinix will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.20%. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,054 shares of company stock valued at $17,466,950. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pinney & Scofield Inc. acquired a new position in shares of Equinix in the fourth quarter valued at approximately $28,000. Kestra Investment Management LLC acquired a new position in Equinix in the 4th quarter valued at $31,000. Pacific Center for Financial Services increased its stake in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after buying an additional 15 shares during the period. J.Safra Asset Management Corp purchased a new position in Equinix during the 4th quarter worth $39,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Equinix in the 4th quarter worth $42,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.