Mizuho Cuts Equinix (NASDAQ:EQIX) Price Target to $1,053.00

Equinix (NASDAQ:EQIX) had its price target decreased by Mizuho from $1,094.00 to $1,053.00 in a report published on Friday,Benzinga reports. Mizuho currently has an outperform rating on the financial services provider’s stock.

EQIX has been the topic of several other research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price target on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Truist Financial dropped their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. Finally, Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $1,007.59.

Equinix Trading Down 2.7 %

Shares of EQIX opened at $803.00 on Friday. The company’s fifty day simple moving average is $895.96 and its 200-day simple moving average is $909.02. The company has a market cap of $78.16 billion, a P/E ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. As a group, analysts expect that Equinix will post 33.1 EPS for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.34%. Equinix’s payout ratio is presently 219.42%.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now directly owns 4,329 shares in the company, valued at approximately $3,937,268.79. This represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $17,466,950 in the last 90 days. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several institutional investors have recently made changes to their positions in EQIX. Oppenheimer & Co. Inc. boosted its stake in shares of Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after acquiring an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after purchasing an additional 2,560 shares during the period. National Pension Service boosted its holdings in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after acquiring an additional 3,164 shares during the last quarter. Brookfield Corp ON lifted its stake in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Equinix by 19.2% during the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock worth $2,361,000 after buying an additional 404 shares during the period. 94.94% of the stock is currently 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.