Equinix (NASDAQ:EQIX) Stock Price Expected to Rise, Barclays Analyst Says

Equinix (NASDAQ:EQIX) had its price target lifted by Barclays from $834.00 to $837.00 in a research report sent to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other research firms have also recently issued reports on EQIX. Scotiabank decreased their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial decreased their price objective on shares of Equinix from $990.00 to $986.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Bank of America assumed coverage on shares of Equinix in a research report on Monday, May 19th. They issued a “buy” rating and a $1,000.00 price objective on the stock. Finally, TD Securities boosted their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $1,004.80.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $887.43 on Tuesday. The stock has a market cap of $86.81 billion, a PE ratio of 103.79, a PEG ratio of 1.78 and a beta of 0.97. The company’s fifty day moving average is $830.09 and its 200 day moving average is $890.83. Equinix has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $8.86 EPS. Research analysts anticipate that Equinix will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director now owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kurt Pletcher sold 127 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Equinix in the first quarter worth approximately $105,409,000. Foresight Group Ltd Liability Partnership lifted its stake in shares of Equinix by 3.2% in the first quarter. Foresight Group Ltd Liability Partnership now owns 21,701 shares of the financial services provider’s stock worth $17,473,000 after buying an additional 665 shares in the last quarter. Turn8 Private Wealth Inc. bought a new position in shares of Equinix in the first quarter worth approximately $2,802,000. Advisors Capital Management LLC lifted its stake in shares of Equinix by 12.8% in the first quarter. Advisors Capital Management LLC now owns 564 shares of the financial services provider’s stock worth $460,000 after buying an additional 64 shares in the last quarter. Finally, Mattson Financial Services LLC lifted its stake in shares of Equinix by 10.8% in the first quarter. Mattson Financial Services LLC now owns 2,085 shares of the financial services provider’s stock worth $1,700,000 after buying an additional 203 shares in the last quarter. Institutional investors 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.