Equinix (NASDAQ:EQIX) Stock Keeps “Buy” Rating at Guggenheim

Equinix (NASDAQ:EQIX)‘s stock had its “buy” rating restated by equities researchers at Guggenheim in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $1,235.00 price objective on the financial services provider’s stock. Guggenheim’s target price suggests a potential upside of 24.79% from the company’s current price.

A number of other research firms have also commented on EQIX. Truist Financial raised their price objective on Equinix from $1,215.00 to $1,220.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Royal Bank Of Canada raised their price objective on Equinix from $1,125.00 to $1,225.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Scotiabank restated a “sector perform” rating and set a $1,208.00 price objective on shares of Equinix in a research note on Thursday, July 30th. Cantor Fitzgerald raised their price objective on Equinix from $1,186.00 to $1,211.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Finally, Stifel Nicolaus lifted their price target on Equinix from $1,250.00 to $1,265.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $1,206.55.

Equinix Price Performance

Equinix stock traded up $13.94 during mid-day trading on Tuesday, reaching $989.65. 89,929 shares of the company were exchanged, compared to its average volume of 583,897. The company has a fifty day simple moving average of $1,037.09 and a 200-day simple moving average of $1,050.07. Equinix has a 12 month low of $720.62 and a 12 month high of $1,128.68. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $97.65 billion, a PE ratio of 63.81, a PEG ratio of 1.41 and a beta of 0.98.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, topping analysts’ consensus estimates of $4.73 by $7.05. Equinix had a return on equity of 10.76% and a net margin of 15.64%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the company earned $9.91 EPS. The company’s revenue was up 16.4% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. As a group, equities research analysts expect that Equinix will post 38.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Kurt Pletcher sold 135 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total transaction of $145,192.50. Following the sale, the insider owned 4,077 shares in the company, valued at $4,384,813.50. The trade was a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total value of $317,748.07. Following the sale, the insider owned 2,450 shares in the company, valued at $2,535,774.50. This represents a 11.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,770 shares of company stock worth $4,884,197 in the last 90 days. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of hedge funds and other institutional investors have recently bought and sold shares of EQIX. BlackRock Inc. acquired a new position in shares of Equinix during the 2nd quarter valued at $11,930,074,000. Principal Financial Group Inc. lifted its position in shares of Equinix by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,980,497 shares of the financial services provider’s stock valued at $1,941,377,000 after acquiring an additional 27,643 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Equinix by 26,831.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,239,122 shares of the financial services provider’s stock valued at $1,291,648,000 after acquiring an additional 1,234,521 shares during the period. Legal & General Group Plc acquired a new position in shares of Equinix during the 2nd quarter valued at $1,181,260,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Equinix during the 2nd quarter valued at $1,163,662,000. Institutional investors own 94.94% of the company’s stock.

About Equinix

Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.

The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.