Equinix (NASDAQ:EQIX) PT Raised to $810.00 at Barclays

Equinix (NASDAQ:EQIX) had its price target lifted by investment analysts at Barclays from $671.00 to $810.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would suggest a potential downside of 12.49% from the company’s previous close.

Other research analysts have also issued reports about the stock. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and raised their target price for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Evercore ISI raised their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Cfra reaffirmed a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $927.67.

Equinix Stock Up 1.2 %

Shares of Equinix stock traded up $11.23 on Monday, hitting $925.56. 26,285 shares of the company traded hands, compared to its average volume of 526,468. The company has a 50-day moving average price of $861.56 and a 200 day moving average price of $801.35. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26. Equinix has a 12-month low of $684.14 and a 12-month high of $943.02. The company has a market cap of $87.84 billion, a PE ratio of 92.83, a PEG ratio of 2.11 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company posted $8.04 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts predict that Equinix will post 31.01 earnings per share for the current year.

Insider Activity

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares of the company’s stock, valued at approximately $3,262.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. 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 accessible through the SEC website. Also, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now directly owns 4 shares of the company’s stock, valued at approximately $3,262.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. CNB Bank raised its stake in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC bought a new stake in shares of Equinix during the first quarter worth $31,000. GHP Investment Advisors Inc. raised its holdings in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Finally, Fortitude Family Office LLC lifted its position in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. 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.