Equinix (NASDAQ:EQIX) Price Target Increased to $975.00 by Analysts at Wells Fargo & Company

Equinix (NASDAQ:EQIX) had its target price lifted by Wells Fargo & Company from $875.00 to $975.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

EQIX has been the subject of several other research reports. JPMorgan Chase & Co. raised their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Truist Financial raised their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Cfra reaffirmed a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and raised their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, TD Cowen increased their price objective on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Equinix has an average rating of “Moderate Buy” and an average price target of $914.36.

Equinix Stock Performance

Shares of Equinix stock opened at $888.85 on Thursday. The company has a 50 day moving average of $853.82 and a 200-day moving average of $796.87. Equinix has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The company has a market cap of $84.36 billion, a PE ratio of 89.15, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. Equinix’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $8.04 EPS. As a group, equities research analysts forecast that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Insider Activity

In other news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares of the company’s stock, valued at $3,262.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 over the last three months. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EQIX. Fisher Asset Management LLC bought a new position in shares of Equinix during the fourth quarter valued at about $381,000. HighPoint Advisor Group LLC bought a new position in shares of Equinix during the fourth quarter valued at about $471,000. Los Angeles Capital Management LLC raised its position in Equinix by 0.3% in the first quarter. Los Angeles Capital Management LLC now owns 14,199 shares of the financial services provider’s stock worth $11,719,000 after acquiring an additional 36 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Equinix by 308.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 788 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 595 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in Equinix by 5.1% in the first quarter. Wedmont Private Capital now owns 915 shares of the financial services provider’s stock valued at $733,000 after acquiring an additional 44 shares during the last quarter. 94.94% of the stock is owned by 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.