Equinix, Inc. (NASDAQ:EQIX) Stock Has Average Price Target of $1,226.97 According to Analysts

Shares of Equinix, Inc. (NASDAQ:EQIX) have been assigned an average recommendation of “Moderate Buy” from the thirty-two analysts that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, twenty-six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $1,234.13.

A number of equities analysts have weighed in on the stock. BTIG Research lifted their price target on shares of Equinix from $1,210.00 to $1,240.00 and gave the company a “buy” rating in a report on Thursday, September 10th. Canadian Imperial Bank of Commerce assumed coverage on shares of Equinix in a research note on Tuesday, October 20th. They issued an “outperform” rating and a $1,200.00 target price for the company. TD Cowen raised their price objective on Equinix from $1,166.00 to $1,210.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Citigroup upped their target price on Equinix from $1,260.00 to $1,320.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Equinix in a report on Friday, October 30th.

Insider Transactions at Equinix

In related news, Director Christopher Paisley sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $1,103.58, for a total transaction of $137,947.50. Following the completion of the sale, the director owned 13,734 shares in the company, valued at $15,156,567.72. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kurt Pletcher sold 135 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,384,813.50. This represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 770 shares of company stock valued at $807,077. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Avion Wealth grew its holdings in Equinix by 73.3% during the 1st quarter. Avion Wealth now owns 26 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 11 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in Equinix by 166.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 24 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 15 shares during the period. Physician Wealth Advisors Inc. boosted its stake in shares of Equinix by 266.7% during the 1st quarter. Physician Wealth Advisors Inc. now owns 33 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 24 shares in the last quarter. Trust Co. of Vermont purchased a new stake in Equinix in the 2nd quarter worth approximately $34,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Equinix by 233.3% during the 1st quarter. Bogart Wealth LLC now owns 40 shares of the financial services provider’s stock worth $39,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Equinix stock opened at $1,012.71 on Friday. The business’s 50 day simple moving average is $1,016.72 and its 200 day simple moving average is $1,013.32. The company has a market cap of $99.92 billion, a price-to-earnings ratio of 60.82, a PEG ratio of 1.41 and a beta of 0.98. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.59. Equinix has a 12 month low of $720.62 and a 12 month high of $1,128.68.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 28th. The financial services provider reported $4.93 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $0.82. Equinix had a net margin of 16.38% and a return on equity of 11.49%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company earned $9.83 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Equinix will post 39.01 EPS for the current year.

Equinix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, November 18th will be issued a dividend of $5.16 per share. This represents a $20.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, November 18th. Equinix’s dividend payout ratio (DPR) is presently 123.96%.

Equinix Company Profile