Brokerages Set Equinix, Inc. (NASDAQ:EQIX) PT at $1,013.43

Equinix, Inc. (NASDAQ:EQIX) has received an average rating of “Moderate Buy” from the twenty-eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $1,013.4348.

Several analysts recently commented on EQIX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a research report on Thursday, January 22nd. Jefferies Financial Group raised their price objective on shares of Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 price objective on shares of Equinix in a research note on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,075.00 target price on shares of Equinix in a report on Friday, February 13th. Finally, Scotiabank reiterated an “outperform” rating on shares of Equinix in a research note on Thursday, February 12th.

Insider Activity at Equinix

In other news, EVP Raouf Abdel sold 584 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total value of $563,962.96. Following the transaction, the executive vice president owned 7,768 shares of the company’s stock, valued at approximately $7,501,479.92. The trade was a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 630 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $961.19, for a total value of $605,549.70. Following the sale, the insider owned 10,394 shares of the company’s stock, valued at $9,990,608.86. This trade represents a 5.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,842 shares of company stock worth $14,494,840 in the last ninety days. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds have recently made changes to their positions in EQIX. Purpose Unlimited Inc. acquired a new position in shares of Equinix during the fourth quarter worth about $588,000. Hsbc Holdings PLC lifted its position in Equinix by 6.0% in the fourth quarter. Hsbc Holdings PLC now owns 444,635 shares of the financial services provider’s stock valued at $340,795,000 after purchasing an additional 25,259 shares during the period. Stance Capital LLC acquired a new stake in Equinix in the fourth quarter valued at about $1,415,000. Rockefeller Capital Management L.P. boosted its holdings in Equinix by 37.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 112,474 shares of the financial services provider’s stock valued at $86,174,000 after purchasing an additional 30,572 shares in the last quarter. Finally, World Investment Advisors boosted its holdings in Equinix by 31.8% in the 4th quarter. World Investment Advisors now owns 842 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Trading Down 0.3%

EQIX opened at $964.53 on Friday. The firm has a market cap of $94.77 billion, a price-to-earnings ratio of 70.15, a price-to-earnings-growth ratio of 2.49 and a beta of 1.04. Equinix has a 52 week low of $701.41 and a 52 week high of $992.90. The business’s 50 day moving average is $897.70 and its two-hundred day moving average is $823.66. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. Equinix’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $7.92 earnings per share. On average, research analysts predict that Equinix will post 33.1 EPS for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th were paid a dividend of $5.16 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $20.64 annualized dividend and a yield of 2.1%. This is a boost from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio (DPR) is currently 150.11%.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.