TD Cowen Boosts Equinix (NASDAQ:EQIX) Price Target to $984.00

Equinix (NASDAQ:EQIX) had its price target boosted by TD Cowen from $865.00 to $984.00 in a research note published on Thursday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

EQIX has been the topic of several other reports. The Goldman Sachs Group lifted their target price on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and upped their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Mizuho upped their target price on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Finally, Evercore ISI raised their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average price target of $944.63.

Equinix Trading Down 2.2 %

Equinix stock opened at $888.30 on Thursday. The business has a 50-day simple moving average of $869.56 and a two-hundred day simple moving average of $806.75. Equinix has a 52-week low of $684.14 and a 52-week high of $943.02. The company has a quick ratio of 1.22, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a market cap of $85.71 billion, a P/E ratio of 80.10, a P/E/G ratio of 2.18 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.29% and a return on equity of 8.34%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $8.04 earnings per share. Analysts predict that Equinix will post 31.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Insiders Place Their Bets

In other news, EVP Jonathan Lin sold 93 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Equinix news, EVP Jonathan Lin sold 93 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the transaction, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the sale, the chief accounting officer now owns 5,554 shares of the company’s stock, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,906 shares of company stock valued at $9,071,764 over the last ninety days. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CNB Bank grew its position in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. LRI Investments LLC bought a new position in shares of Equinix in the first quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix in the 2nd quarter worth about $30,000. GHP Investment Advisors Inc. lifted its holdings in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

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.