Equinix (NASDAQ:EQIX) Upgraded by HSBC to Buy

Equinix (NASDAQ:EQIX) was upgraded by equities researchers at HSBC from a “hold” rating to a “buy” rating in a report released on Friday, Marketbeat reports. The firm presently has a $1,000.00 price target on the financial services provider’s stock, up from their previous price target of $865.00. HSBC’s price target suggests a potential upside of 14.04% from the company’s previous close.

A number of other research firms have also weighed in on EQIX. Wells Fargo & Company raised Equinix from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Mizuho upped their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Cfra reissued a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. increased their price objective on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $903.80.

Equinix Price Performance

Shares of Equinix stock opened at $876.88 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix has a 52-week low of $677.80 and a 52-week high of $914.93. The company has a fifty day moving average of $838.25 and a 200-day moving average of $792.81. The stock has a market capitalization of $83.22 billion, a price-to-earnings ratio of 87.95, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71.

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

Insider Activity

In related news, insider Brandi Galvin Morandi sold 864 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at $7,729,900. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Brandi Galvin Morandi sold 864 shares of the 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 sale, the insider now directly owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the chairman now directly owns 7,680 shares of the company’s stock, valued at $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,043 shares of company stock worth $8,282,119. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several institutional investors have recently added to or reduced their stakes in EQIX. Cypress Capital Group increased its holdings in Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after buying an additional 13 shares in the last quarter. MRA Advisory Group lifted its position in Equinix by 3.2% during the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares during the period. Banco Santander S.A. boosted its holdings in Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares during the last quarter. Abbrea Capital LLC grew its position in Equinix by 5.5% in the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 14 shares during the period. Finally, UMB Bank n.a. raised its stake in Equinix by 30.0% during the 1st quarter. UMB Bank n.a. now owns 65 shares of the financial services provider’s stock valued at $54,000 after buying an additional 15 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.