Equinix (NASDAQ:EQIX) Given New $762.00 Price Target at Morgan Stanley

Equinix (NASDAQ:EQIX) had its price objective lowered by research analysts at Morgan Stanley from $767.00 to $762.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential downside of 7.72% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Truist Financial lifted their price target on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets lifted their price target on shares of Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Oppenheimer lifted their price target on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. HSBC lowered shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a research note on Wednesday, March 20th. Finally, KeyCorp started coverage on shares of Equinix in a research note on Wednesday, December 6th. They set a “sector weight” rating on the stock. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $868.72.

Equinix Trading Up 1.3 %

Shares of Equinix stock traded up $10.45 during mid-day trading on Thursday, hitting $825.76. 475,011 shares of the stock were exchanged, compared to its average volume of 555,698. The company has a 50-day simple moving average of $849.93 and a 200 day simple moving average of $798.15. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. Equinix has a twelve month low of $672.88 and a twelve month high of $914.93. The stock has a market capitalization of $78.13 billion, a price-to-earnings ratio of 79.93, a price-to-earnings-growth ratio of 1.91 and a beta of 0.59.

Insider Activity at Equinix

In related news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Equinix news, CEO Charles J. Meyers sold 7,174 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $800.18, for a total value of $5,740,491.32. Following the transaction, the chief executive officer now directly owns 16,360 shares of the company’s stock, valued at approximately $13,090,944.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, the chairman now directly owns 7,968 shares in the company, valued at $6,622,364.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,282 shares of company stock valued at $14,788,771. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Equinix

Several large investors have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new stake in shares of Equinix during the 4th quarter worth about $13,428,000. HighPoint Advisor Group LLC bought a new stake in Equinix during the 4th quarter valued at approximately $471,000. Grayhawk Investment Strategies Inc. bought a new stake in Equinix during the 4th quarter valued at approximately $97,000. ICA Group Wealth Management LLC bought a new stake in Equinix during the 4th quarter valued at approximately $81,000. Finally, Fisher Asset Management LLC bought a new stake in Equinix during the 4th quarter valued at approximately $381,000. 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.