Equinix (NASDAQ:EQIX) Upgraded at Evercore ISI

Equinix (NASDAQ:EQIX) was upgraded by Evercore ISI to a “strong-buy” rating in a report issued on Wednesday, Zacks.com reports.

Several other research firms have also recently weighed in on EQIX. The Goldman Sachs Group increased their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Truist Financial increased their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. TD Cowen raised their price target on shares of Equinix from $859.00 to $865.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Cfra restated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $897.13.

Equinix Price Performance

EQIX stock opened at $876.22 on Wednesday. Equinix has a 52-week low of $677.80 and a 52-week high of $914.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The company has a fifty day moving average price of $836.16 and a 200-day moving average price of $793.05. The company has a market capitalization of $83.16 billion, a P/E ratio of 87.89, a PEG ratio of 2.15 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the company earned $8.04 earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts expect that Equinix will post 31.01 EPS for the current year.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Hedge funds have recently added to or reduced their stakes in the stock. CNB Bank raised its position in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Equinix in the second quarter worth about $30,000. LRI Investments LLC purchased a new position in shares of Equinix in the first quarter worth about $31,000. Meeder Asset Management Inc. purchased a new position in shares of Equinix in the second quarter worth about $36,000. Finally, Rise Advisors LLC purchased a new position in shares of Equinix in the first quarter worth about $39,000. 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.