Equinix (NASDAQ:EQIX) Price Target Raised to $1,040.00 at Scotiabank

Equinix (NASDAQ:EQIX) had its target price hoisted by research analysts at Scotiabank from $1,033.00 to $1,040.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price target points to a potential upside of 13.66% from the company’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company reduced 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 note on Thursday, February 13th. Royal Bank of Canada boosted their target price 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 restated a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. BMO Capital Markets lowered their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” 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 report on Wednesday, February 5th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Equinix currently has an average rating of “Buy” and an average price target of $995.24.

Equinix Stock Performance

Shares of EQIX traded up $10.38 during mid-day trading on Monday, reaching $915.00. The company’s stock had a trading volume of 104,286 shares, compared to its average volume of 529,119. The stock has a market cap of $89.06 billion, a P/E ratio of 107.02, a PEG ratio of 1.78 and a beta of 0.72. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $928.20 and a two-hundred day simple moving average of $905.68. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating 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%. As a group, equities research analysts anticipate that Equinix will post 33.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the transaction, the chief executive officer now directly owns 3,069 shares in the company, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the completion of the sale, the insider now owns 1,015 shares of the company’s stock, valued at $976,633. This represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,241 shares of company stock worth $20,531,762. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds have recently bought and sold shares of EQIX. Pinney & Scofield Inc. bought a new stake in Equinix during the 4th quarter worth approximately $28,000. Kestra Investment Management LLC bought a new position in Equinix in the 4th quarter valued at $31,000. Pacific Center for Financial Services increased its position in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Equinix in the fourth quarter worth about $39,000. Finally, Sierra Ocean LLC purchased a new position in Equinix in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.