Equinix (NASDAQ:EQIX) Price Target Raised to $975.00 at Evercore ISI

Equinix (NASDAQ:EQIX) had its target price hoisted by Evercore ISI from $945.00 to $975.00 in a research report report published on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the financial services provider’s stock.

Several other brokerages have also recently commented on EQIX. Truist Financial raised their price target on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company raised their price target on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Mizuho raised their price target on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $918.40.

Equinix Stock Up 1.5 %

Equinix stock opened at $891.16 on Wednesday. Equinix has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a 50 day moving average price of $858.53 and a 200 day moving average price of $799.63. The company has a market capitalization of $84.58 billion, a PE ratio of 89.38, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71.

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

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st were given a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.91%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares of the company’s stock, valued at $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 over the last ninety days. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EQIX. Swedbank AB purchased a new position in Equinix during the first quarter worth about $294,526,000. Principal Financial Group Inc. raised its holdings in Equinix by 14.5% during the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after purchasing an additional 238,883 shares in the last quarter. Vanguard Group Inc. raised its holdings in Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. M&G Plc purchased a new position in Equinix during the first quarter worth about $187,089,000. Finally, Quadrature Capital Ltd purchased a new position in Equinix during the first quarter worth about $145,308,000. 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.