Brokerages Set Equinix, Inc. (NASDAQ:EQIX) Price Target at $995.24

Equinix, Inc. (NASDAQ:EQIX) has been assigned an average rating of “Buy” from the twenty-one ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $989.35.

EQIX has been the topic of several recent research reports. BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Truist Financial lowered their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. JMP Securities restated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Stifel Nicolaus upped their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Oppenheimer upped their price objective on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $837.68 on Monday. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The company’s 50 day moving average is $912.40 and its 200 day moving average is $907.43. 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 company has a market cap of $81.53 billion, a PE ratio of 97.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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, sell-side analysts forecast that Equinix will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the sale, the chief financial officer now owns 22,076 shares in the company, valued at approximately $20,085,186.32. This trade represents a 12.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 in the last quarter. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinney & Scofield Inc. acquired a new position in Equinix in the 4th quarter valued at about $28,000. Kestra Investment Management LLC acquired a new position in Equinix in the 4th quarter valued at about $31,000. Pacific Center for Financial Services grew its position in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 15 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Equinix in the 4th quarter valued at about $39,000. Finally, Sierra Ocean LLC acquired a new position in Equinix in the 4th quarter valued at about $42,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.