Equinix (NASDAQ:EQIX) Given New $1,030.00 Price Target at Scotiabank

Equinix (NASDAQ:EQIX) had its price objective dropped by investment analysts at Scotiabank from $1,040.00 to $1,030.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s target price points to a potential upside of 30.49% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Oppenheimer upped their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Mizuho decreased their price objective on shares of Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a research note on Friday, March 28th. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price on the stock in a report on Thursday, March 27th. Wells Fargo & Company dropped their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Finally, Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $1,004.94.

Equinix Stock Performance

NASDAQ EQIX opened at $789.35 on Tuesday. The firm’s fifty day moving average price is $844.53 and its two-hundred day moving average price is $896.95. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03. The firm has a market capitalization of $77.21 billion, a P/E ratio of 92.28, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, research analysts anticipate that Equinix will post 33.1 EPS for the current year.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares of the company’s stock, valued at $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

A number of institutional investors have recently bought and sold shares of EQIX. Inspire Trust Co. N.A. raised its position in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 11 shares during the last quarter. Rothschild Investment LLC boosted its stake in shares of Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after buying an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. increased its holdings in shares of Equinix by 3.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 11 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after acquiring an additional 12 shares in the last quarter. Finally, Great Lakes Retirement Inc. grew its position in shares of Equinix by 1.2% during the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider’s stock valued at $920,000 after acquiring an additional 12 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.