Equinix (NASDAQ:EQIX) Price Target Raised to $1,025.00

Equinix (NASDAQ:EQIX) had its price target boosted by Royal Bank of Canada from $936.00 to $1,025.00 in a report issued on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other brokerages have also recently commented on EQIX. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. TD Cowen upped their target price on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Mizuho upped their price objective on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Four 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $976.81.

Equinix Stock Down 1.1 %

Shares of NASDAQ EQIX opened at $965.00 on Wednesday. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The stock’s fifty day moving average is $919.91 and its 200 day moving average is $845.58. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $93.11 billion, a P/E ratio of 87.02, a PEG ratio of 2.51 and a beta of 0.72.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is presently 153.65%.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total value of $789,645.00. Following the completion of the transaction, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This trade represents a 9.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the sale, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. The trade was a 49.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

Several institutional investors have recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC boosted its stake in Equinix by 2.4% during the second quarter. Dynamic Advisor Solutions LLC now owns 879 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 21 shares in the last quarter. Verde Capital Management boosted its position in shares of Equinix by 31.8% during the 2nd quarter. Verde Capital Management now owns 1,756 shares of the financial services provider’s stock worth $1,329,000 after purchasing an additional 424 shares in the last quarter. S.E.E.D. Planning Group LLC grew its stake in shares of Equinix by 29.8% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 2,826 shares of the financial services provider’s stock valued at $2,138,000 after buying an additional 648 shares during the period. Blue Trust Inc. increased its position in Equinix by 555.7% in the 2nd quarter. Blue Trust Inc. now owns 459 shares of the financial services provider’s stock valued at $379,000 after buying an additional 389 shares in the last quarter. Finally, Gradient Investments LLC raised its stake in Equinix by 19.6% during the 2nd quarter. Gradient Investments LLC now owns 15,011 shares of the financial services provider’s stock worth $11,357,000 after buying an additional 2,461 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

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.