Barclays Increases Equinix (NASDAQ:EQIX) Price Target to $834.00

Equinix (NASDAQ:EQIX) had its target price upped by equities researchers at Barclays from $822.00 to $834.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target suggests a potential downside of 2.13% from the stock’s current price.

Several other analysts also recently commented on EQIX. Scotiabank increased their price objective on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada increased their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Finally, Citizens Jmp raised Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $990.06.

Equinix Stock Down 0.4 %

EQIX stock opened at $852.15 on Thursday. The stock’s 50 day simple moving average is $906.85 and its 200 day simple moving average is $908.67. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market cap of $82.94 billion, a P/E ratio of 99.77, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 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%. On average, research analysts expect that Equinix will post 33.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 341 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the completion of the sale, the insider now owns 1,430 shares of the company’s stock, valued at approximately $1,292,319.60. The trade was a 19.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % 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 over the last 90 days. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of hedge funds have recently made changes to their positions in EQIX. Principal Financial Group Inc. boosted its position in shares of Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Equinix during the 3rd quarter valued at $224,000. Empowered Funds LLC lifted its holdings in shares of Equinix by 8.9% during the 3rd quarter. Empowered Funds LLC now owns 2,100 shares of the financial services provider’s stock valued at $1,864,000 after buying an additional 171 shares during the period. Caprock Group LLC lifted its holdings in shares of Equinix by 15.0% during the 3rd quarter. Caprock Group LLC now owns 2,036 shares of the financial services provider’s stock valued at $1,808,000 after buying an additional 265 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Equinix by 4.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,168 shares of the financial services provider’s stock valued at $11,688,000 after buying an additional 531 shares during the period. 94.94% of the stock is 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.