JPMorgan Chase & Co. Boosts Equinix (NASDAQ:EQIX) Price Target to $940.00

Equinix (NASDAQ:EQIX) had its price objective lifted by analysts at JPMorgan Chase & Co. from $935.00 to $940.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 21.80% from the stock’s current price.

EQIX has been the subject of a number of other reports. Wolfe Research lowered shares of Equinix from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. BNP Paribas raised shares of Equinix to a “strong-buy” rating in a research note on Thursday, May 1st. Guggenheim assumed coverage on shares of Equinix in a research note on Thursday, July 10th. They issued a “buy” rating and a $933.00 target price on the stock. TD Securities lifted their price target on shares of Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group decreased their price target on shares of Equinix from $1,020.00 to $880.00 and set a “buy” rating on the stock in a research note on Wednesday, July 2nd. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $957.27.

Equinix Price Performance

EQIX stock opened at $771.75 on Thursday. The firm has a 50 day moving average of $831.20 and a 200-day moving average of $853.72. The company has a current ratio of 1.54, a quick ratio of 1.65 and a debt-to-equity ratio of 1.29. Equinix has a 12 month low of $701.41 and a 12 month high of $994.03. The firm has a market capitalization of $75.49 billion, a P/E ratio of 75.59, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, beating analysts’ consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the business earned $9.22 earnings per share. Equinix’s revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that Equinix will post 33.1 earnings per share for the current fiscal year.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares of the company’s stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider directly owned 1,842 shares of the company’s stock, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 in the last quarter. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Equinix

Hedge funds have recently bought and sold shares of the business. Activest Wealth Management raised its position in Equinix by 121.4% in the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock worth $25,000 after buying an additional 17 shares during the last quarter. Bank of Jackson Hole Trust raised its position in Equinix by 70.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares during the last quarter. Pinney & Scofield Inc. purchased a new position in Equinix in the 4th quarter worth about $28,000. Atticus Wealth Management LLC purchased a new position in Equinix in the 2nd quarter worth about $29,000. Finally, GKV Capital Management Co. Inc. purchased a new position in Equinix in the 1st quarter worth about $30,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

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.