BMO Capital Markets Lowers Equinix (NASDAQ:EQIX) Price Target to $1,065.00

Equinix (NASDAQ:EQIX) had its price objective reduced by BMO Capital Markets from $1,085.00 to $1,065.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other brokerages have also commented on EQIX. Wells Fargo & Company cut their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday. Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Truist Financial boosted their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Finally, JMP Securities reissued a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a report on Thursday. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $994.82.

Equinix Stock Up 1.1 %

EQIX stock opened at $933.60 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $90.08 billion, a PE ratio of 84.18, a PEG ratio of 2.23 and a beta of 0.72. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The stock has a 50-day simple moving average of $934.88 and a two-hundred day simple moving average of $896.05.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, equities analysts predict that Equinix will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $18.76 annualized dividend and a yield of 2.01%. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is presently 153.65%.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % 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 2,965 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

A number of hedge funds and other institutional investors have recently made changes to their positions in EQIX. Kestra Investment Management LLC bought a new position in shares of Equinix during the fourth quarter valued at approximately $31,000. GHP Investment Advisors Inc. grew its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC grew its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. J.Safra Asset Management Corp purchased a new stake in shares of Equinix in the fourth quarter worth $39,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Equinix in the fourth quarter worth $42,000. Institutional investors own 94.94% of the company’s stock.

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.