Brokerages Set Equinix, Inc. (NASDAQ:EQIX) PT at $996.06

Equinix, Inc. (NASDAQ:EQIX) has earned an average rating of “Buy” from the twenty-one ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $994.82.

A number of brokerages have commented on EQIX. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial increased their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Scotiabank reduced their target price on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th.

Equinix Stock Performance

EQIX opened at $939.08 on Thursday. The stock’s 50 day simple moving average is $932.87 and its 200-day simple moving average is $899.70. 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 stock has a market cap of $91.40 billion, a PE ratio of 109.83, a P/E/G ratio of 2.24 and a beta of 0.72. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Equinix will post 33.71 EPS for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is a positive change from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.00%. Equinix’s dividend payout ratio (DPR) is presently 199.30%.

Insider Activity at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the transaction, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the sale, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,826 shares of company stock worth $15,555,490. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinney & Scofield Inc. acquired a new stake in shares of Equinix in the 4th quarter valued at about $28,000. Kestra Investment Management LLC bought a new position in shares of Equinix during the fourth quarter worth about $31,000. GHP Investment Advisors Inc. raised its position in Equinix by 50.0% in 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 during the last quarter. Fortitude Family Office LLC lifted its stake 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. Finally, Pacific Center for Financial Services boosted its position in Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 15 shares during 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.