JMP Securities Reiterates “Market Outperform” Rating for Equinix (NASDAQ:EQIX)

Equinix (NASDAQ:EQIX)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $1,200.00 price target on the financial services provider’s stock. JMP Securities’ price target would suggest a potential upside of 30.81% from the stock’s current price.

Several other research analysts have also weighed in on the company. Evercore ISI boosted their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upped their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Truist Financial upped their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, 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 note on Thursday. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $995.47.

Equinix Stock Down 1.9 %

NASDAQ EQIX traded down $17.82 during trading hours on Thursday, reaching $917.38. 176,462 shares of the company’s stock were exchanged, compared to its average volume of 479,170. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix has a one year low of $684.14 and a one year high of $994.03. The company’s 50-day moving average is $936.92 and its two-hundred day moving average is $894.76. The company has a market capitalization of $88.52 billion, a price-to-earnings ratio of 82.90, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. On average, analysts forecast that Equinix will post 31.09 EPS for the current fiscal year.

Insider Buying and Selling at Equinix

In related news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now owns 18,966 shares in the company, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,801 shares of company stock worth $15,530,564. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Equinix by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock worth $11,941,418,000 after buying an additional 88,654 shares in the last quarter. State Street Corp grew its position in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after acquiring an additional 81,941 shares during the last quarter. Geode Capital Management LLC lifted its position in Equinix by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock valued at $2,269,037,000 after purchasing an additional 62,005 shares during the last quarter. FMR LLC boosted its stake in shares of Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock valued at $2,135,606,000 after purchasing an additional 81,144 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.