Analysts Set Equinix, Inc. (NASDAQ:EQIX) PT at $995.24

Shares of Equinix, Inc. (NASDAQ:EQIX) have been assigned a consensus rating of “Buy” from the twenty-one analysts that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $989.35.

EQIX has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank increased their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the transaction, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total transaction of $114,026.25. Following the transaction, the director now directly 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 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 three months. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. grew its stake in Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after acquiring an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after purchasing an additional 2,560 shares during the last quarter. National Pension Service lifted its position in Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after purchasing an additional 3,164 shares during the last quarter. Brookfield Corp ON lifted its position in Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after purchasing an additional 404 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Up 0.4 %

Shares of NASDAQ EQIX opened at $837.68 on Monday. The firm’s 50 day moving average price is $912.40 and its 200-day moving average price is $908.72. The company has a market cap of $81.53 billion, a PE ratio of 97.97, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix has a 52-week low of $684.14 and a 52-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.

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

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. Equinix’s dividend payout ratio is 219.42%.

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.