Mizuho Lowers Equinix (NASDAQ:EQIX) Price Target to $1,053.00

Equinix (NASDAQ:EQIX) had its price objective lowered by Mizuho from $1,094.00 to $1,053.00 in a research report released on Friday morning,Benzinga reports. Mizuho currently has an outperform rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the stock. Barclays upped their price objective on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a report on Thursday, March 20th. Oppenheimer increased their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank boosted their price objective on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $1,007.59.

Equinix Trading Down 2.7 %

Equinix stock opened at $803.00 on Friday. The firm has a 50-day moving average price of $895.96 and a two-hundred day moving average price of $908.43. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a market capitalization of $78.16 billion, a price-to-earnings ratio of 93.92, a PEG 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 issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Sell-side analysts expect that Equinix will post 33.1 earnings per share 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 given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.34%. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

Insider Activity

In related news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $17,466,950 over the last quarter. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors 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 worth $28,000. Kestra Investment Management LLC acquired a new position in Equinix in the 4th quarter worth about $31,000. Pacific Center for Financial Services raised its stake in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 15 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Equinix during the 4th quarter valued at about $39,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Equinix during the 4th quarter valued at about $42,000. 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.