Equinix (NASDAQ:EQIX) Upgraded by Moffett Nathanson to “Strong-Buy” Rating

Moffett Nathanson upgraded shares of Equinix (NASDAQ:EQIX) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

EQIX has been the topic of a number of other reports. Truist Financial lifted their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Royal Bank of Canada raised their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. BMO Capital Markets increased their price objective on Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Evercore ISI raised their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Equinix presently has a consensus rating of “Buy” and an average target price of $996.06.

Equinix Price Performance

Shares of Equinix stock opened at $933.27 on Wednesday. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a fifty day simple moving average of $939.33 and a 200-day simple moving average of $889.81. 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 stock has a market capitalization of $90.05 billion, a price-to-earnings ratio of 84.15, a PEG ratio of 2.18 and a beta of 0.72.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the sale, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,801 shares of company stock valued at $15,530,564 in the last ninety days. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds have recently modified their holdings of the stock. CWM LLC boosted its position in Equinix by 5.6% in the 3rd quarter. CWM LLC now owns 1,702 shares of the financial services provider’s stock valued at $1,511,000 after buying an additional 90 shares during the last quarter. Quotient Wealth Partners LLC bought a new position in Equinix in the third quarter valued at about $215,000. Watts Gwilliam & Co. LLC acquired a new stake in Equinix in the third quarter worth about $349,000. Independence Bank of Kentucky raised its holdings in Equinix by 69.7% during the 3rd quarter. Independence Bank of Kentucky now owns 745 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 306 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Equinix by 310.7% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 616 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 466 shares during the period. 94.94% of the stock is owned by 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.