Equinix, Inc. (NASDAQ:EQIX) Receives $976.81 Consensus PT from Brokerages

Equinix, Inc. (NASDAQ:EQIX) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $976.81.

A number of research analysts have recently commented on EQIX shares. JPMorgan Chase & Co. boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Barclays upped their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th.

Equinix Price Performance

EQIX stock opened at $942.66 on Wednesday. The firm has a 50 day moving average of $933.01 and a 200-day moving average of $859.58. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $90.96 billion, a P/E ratio of 85.00, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.81%. Equinix’s payout ratio is currently 153.65%.

Insider Activity

In other Equinix news, insider Brandi Galvin Morandi sold 1,726 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the completion of the transaction, the insider now owns 6,505 shares of the company’s stock, valued at $5,886,959.95. This represents a 20.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,398 shares of company stock valued at $7,906,218. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signature Estate & Investment Advisors LLC bought a new stake in shares of Equinix during the 2nd quarter valued at about $260,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Equinix by 8.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 4,757 shares of the financial services provider’s stock worth $3,599,000 after acquiring an additional 358 shares during the period. HB Wealth Management LLC raised its position in shares of Equinix by 28.4% in the 2nd quarter. HB Wealth Management LLC now owns 1,382 shares of the financial services provider’s stock worth $1,046,000 after acquiring an additional 306 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of Equinix by 16.7% in the 2nd quarter. Financial Advocates Investment Management now owns 642 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 92 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Equinix by 16.2% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 696 shares of the financial services provider’s stock valued at $527,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other 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.