Equinix (NASDAQ:EQIX) Hits New 52-Week High – Should You Buy?

Equinix, Inc. (NASDAQ:EQIX) shares hit a new 52-week high during trading on Monday . The company traded as high as $944.22 and last traded at $941.01, with a volume of 87698 shares changing hands. The stock had previously closed at $936.37.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EQIX shares. JPMorgan Chase & Co. boosted their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group boosted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Scotiabank raised their price objective on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a report on Thursday, October 31st. Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $952.88.

Equinix Trading Up 0.4 %

The stock has a market cap of $94.39 billion, a P/E ratio of 88.21, a PEG ratio of 2.51 and a beta of 0.71. The firm’s fifty day moving average price is $895.98 and its two-hundred day moving average price is $829.37. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.74%. Equinix’s payout ratio is currently 153.65%.

Insider Activity

In other Equinix news, 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 sale, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 8.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,754 shares of company stock worth $11,666,756. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

Large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix during the second quarter valued at approximately $30,000. LRI Investments LLC purchased a new stake in shares of Equinix in the 1st quarter valued at $31,000. GHP Investment Advisors Inc. grew its holdings in shares of 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 purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC raised 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 worth $35,000 after purchasing an additional 13 shares during the period. Finally, Meeder Asset Management Inc. purchased a new position in Equinix in the 2nd quarter worth $36,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.