Equinix (NASDAQ:EQIX) Price Target Raised to $1,040.00

Equinix (NASDAQ:EQIX) had its price objective raised by Scotiabank from $1,033.00 to $1,040.00 in a research note released on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the financial services provider’s stock.

EQIX has been the topic of several other research reports. Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Oppenheimer raised their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada raised their target price 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, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $995.24.

Equinix Trading Up 1.2 %

Shares of NASDAQ EQIX opened at $921.02 on Monday. The company has a market cap of $89.64 billion, a price-to-earnings ratio of 107.72, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. Equinix has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock’s 50 day simple moving average is $926.24 and its 200 day simple moving average is $906.92.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Equinix will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.04%. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of the firm’s 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 completion of the sale, the director now directly owns 17,669 shares of the company’s stock, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value 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 approximately $13,859,135.73. This trade represents a 27.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently modified their holdings of the business. Pinney & Scofield Inc. acquired a new stake in shares of Equinix in the fourth quarter worth $28,000. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the fourth quarter worth $31,000. Pacific Center for Financial Services boosted its position in shares of Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after buying an additional 15 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the fourth quarter worth $39,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Equinix in the fourth quarter worth $42,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Company Profile

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.