Equinix (NASDAQ:EQIX) Stock Price Expected to Rise, Barclays Analyst Says

Equinix (NASDAQ:EQIX) had its price target lifted by research analysts at Barclays from $822.00 to $834.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price would indicate a potential downside of 2.13% from the stock’s current price.

Several other analysts have also recently commented on EQIX. BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company decreased their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus raised their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Scotiabank increased their target price on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Finally, Truist Financial cut their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $990.06.

Equinix Stock Performance

NASDAQ EQIX opened at $852.15 on Thursday. The stock has a market cap of $82.94 billion, a P/E ratio of 99.77, a PEG ratio of 1.78 and a beta of 0.74. The company’s 50-day simple moving average is $906.85 and its 200 day simple moving average is $908.67. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, research analysts forecast that Equinix will post 33.1 earnings per share for the current fiscal year.

Insider Transactions at Equinix

In other news, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.82, for a total transaction of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares of the company’s stock, valued at approximately $20,085,186.32. The trade was a 12.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the transaction, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its position in shares of Equinix by 61.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after buying an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Equinix by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after buying an additional 2,560 shares during the last quarter. National Pension Service grew its position in shares of Equinix by 1.3% in the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after buying an additional 3,164 shares during the last quarter. Brookfield Corp ON grew its position in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after buying an additional 32,481 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 404 shares during the last quarter. Institutional investors 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.