Equinix (NASDAQ:EQIX) Price Target Cut to $669.00 by Analysts at Barclays

Equinix (NASDAQ:EQIX) had its price target lowered by Barclays from $818.00 to $669.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential downside of 9.58% from the company’s previous close.

EQIX has been the topic of a number of other reports. Oppenheimer lifted their price target on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Truist Financial lifted their price target on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley decreased their price target on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a report on Wednesday, March 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $862.50.

Equinix Stock Up 0.7 %

Equinix stock opened at $739.85 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. Equinix has a 1-year low of $672.88 and a 1-year high of $914.93. The company has a market cap of $70.00 billion, a PE ratio of 71.76, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The stock’s 50 day moving average price is $835.72 and its 200 day moving average price is $801.33.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 1,164 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at $19,314,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total transaction of $969,588.72. Following the completion of the sale, the chief financial officer now owns 23,187 shares of the company’s stock, valued at $19,314,307.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Camp Peter Van sold 122 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,585 shares of company stock worth $3,818,268. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equinix

A number of institutional investors have recently added to or reduced their stakes in EQIX. Norges Bank purchased a new stake in Equinix during the fourth quarter valued at about $1,574,132,000. Principal Financial Group Inc. boosted its position in shares of Equinix by 44.6% in the third quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock worth $1,015,610,000 after buying an additional 431,435 shares during the period. Legal & General Group Plc boosted its position in shares of Equinix by 20.8% in the fourth quarter. Legal & General Group Plc now owns 1,339,446 shares of the financial services provider’s stock worth $1,078,777,000 after buying an additional 230,300 shares during the period. Morgan Stanley boosted its position in shares of Equinix by 26.5% in the fourth quarter. Morgan Stanley now owns 854,549 shares of the financial services provider’s stock worth $559,756,000 after buying an additional 179,023 shares during the period. Finally, AMF Tjanstepension AB boosted its position in shares of Equinix by 87.4% in the first quarter. AMF Tjanstepension AB now owns 308,991 shares of the financial services provider’s stock worth $255,114,000 after buying an additional 144,093 shares during the period. Hedge funds and other 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.