Equinix, Inc. (NASDAQ:EQIX) Receives $862.50 Consensus Price Target from Analysts

Shares of Equinix, Inc. (NASDAQ:EQIX) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $862.50.

A number of equities research analysts recently issued reports on the company. HSBC cut 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. Morgan Stanley dropped their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Wolfe Research raised shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Oppenheimer boosted their target price on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Barclays cut their price target on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equinix news, EVP Scott Crenshaw sold 460 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the sale, the executive vice president now directly owns 1,242 shares in the company, valued at $1,034,548.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now owns 14,002 shares in the company, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. In the last three months, insiders sold 4,585 shares of company stock worth $3,818,268. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Equinix during the fourth quarter valued at approximately $1,574,132,000. Principal Financial Group Inc. grew its stake in shares of Equinix by 44.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock worth $1,015,610,000 after buying an additional 431,435 shares during the last quarter. AMF Tjanstepension AB increased its position in Equinix by 87.4% during the 1st quarter. AMF Tjanstepension AB now owns 308,991 shares of the financial services provider’s stock valued at $255,114,000 after buying an additional 144,093 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in Equinix by 296.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 144,596 shares of the financial services provider’s stock valued at $116,456,000 after buying an additional 108,099 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Equinix by 27.3% in the third quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock worth $313,461,000 after acquiring an additional 92,575 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of EQIX opened at $761.90 on Friday. Equinix has a 1 year low of $672.88 and a 1 year high of $914.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day moving average price is $830.25 and its two-hundred day moving average price is $803.39. The firm has a market cap of $72.09 billion, a PE ratio of 73.90, a PEG ratio of 1.94 and a beta of 0.58.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.24%. Equinix’s payout ratio is 165.28%.

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.