Equinix, Inc. (NASDAQ:EQIX) Receives Average Rating of “Moderate Buy” from Analysts

Equinix, Inc. (NASDAQ:EQIX) has received an average recommendation of “Moderate Buy” from the twenty analysts that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $944.63.

Several research analysts have weighed in on EQIX shares. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Barclays upped their price target on shares of Equinix from $671.00 to $810.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. TD Cowen boosted their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Evercore ISI raised their target price on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd.

Equinix Stock Up 1.5 %

Shares of EQIX stock opened at $921.06 on Tuesday. The firm’s fifty day moving average price is $877.98 and its two-hundred day moving average price is $811.39. Equinix has a 1 year low of $684.14 and a 1 year high of $943.02. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $88.87 billion, a P/E ratio of 83.05, a PEG ratio of 2.14 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.29% and a return on equity of 8.34%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm posted $8.04 EPS. Equinix’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Equinix will post 31.07 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the sale, the insider now owns 6,505 shares in the company, valued at $5,886,959.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now directly owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 1,726 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the completion of the transaction, the insider now owns 6,505 shares of the company’s stock, valued at $5,886,959.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,632 shares of company stock worth $10,633,777. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several institutional investors and hedge funds have recently added to or reduced their stakes in EQIX. Cypress Capital Group raised its holdings in shares of Equinix by 2.3% during the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after buying an additional 13 shares in the last quarter. MRA Advisory Group raised its stake in Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 13 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Finally, Banco Santander S.A. boosted its stake in shares of Equinix by 2.0% in the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock valued at $577,000 after purchasing an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

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.