Scotiabank Raises Equinix (NASDAQ:EQIX) Price Target to $1,114.00

Equinix (NASDAQ:EQIX) had its target price hoisted by Scotiabank from $985.00 to $1,114.00 in a research note published on Thursday,Benzinga reports. They currently have a sector outperform rating on the financial services provider’s stock.

A number of other analysts have also recently commented on EQIX. JPMorgan Chase & Co. upped their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Royal Bank of Canada raised their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Stifel Nicolaus upped their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $984.88.

Equinix Trading Up 1.7 %

NASDAQ:EQIX opened at $940.93 on Thursday. The company has a market cap of $90.79 billion, a PE ratio of 84.84, a price-to-earnings-growth ratio of 2.22 and a beta of 0.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The company has a 50 day simple moving average of $942.79 and a two-hundred day simple moving average of $880.36. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Transactions at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of Equinix stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at approximately $18,419,399.88. The trade was a 7.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brandi Galvin Morandi sold 1,726 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the transaction, the insider now directly owns 6,505 shares of the company’s stock, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,549 shares of company stock valued at $18,036,455. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Hedge funds have recently modified their holdings of the company. GHP Investment Advisors Inc. raised its stake in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its holdings in shares of Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 20 shares during the last quarter. Dunhill Financial LLC grew its position in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares in the last quarter. Finally, Webster Bank N. A. increased its stake in Equinix by 112.5% during the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 27 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.