Equinix, Inc. (NASDAQ:EQIX) Receives $869.00 Consensus Price Target from Analysts

Equinix, Inc. (NASDAQ:EQIX) has been given an average recommendation of “Moderate Buy” by the fourteen research firms that are currently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $869.00.

A number of brokerages have issued reports on EQIX. Morgan Stanley reduced their price objective on shares of Equinix from $785.00 to $767.00 and set an “equal weight” rating on the stock in a research note on Friday, December 8th. Barclays reduced their price objective on shares of Equinix from $788.00 to $781.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 15th. Wolfe Research upgraded shares of Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. HSBC downgraded shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective on the stock. in a research note on Wednesday, March 20th. Finally, Truist Financial increased their price objective on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research note on Monday, March 18th.

Equinix Price Performance

Shares of EQIX opened at $815.31 on Monday. The firm has a market capitalization of $77.14 billion, a PE ratio of 79.08, a PEG ratio of 1.89 and a beta of 0.59. The company’s 50-day moving average is $849.93 and its 200-day moving average is $798.15. Equinix has a fifty-two week low of $672.88 and a fifty-two week high of $914.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were issued a $4.26 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.09%. Equinix’s dividend payout ratio (DPR) is 165.28%.

Insiders Place Their Bets

In other Equinix news, insider Michael Earl Campbell sold 2,199 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total value of $1,759,024.08. Following the completion of the transaction, the insider now owns 14,067 shares in the company, valued at $11,252,474.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Earl Campbell sold 2,199 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $799.92, for a total value of $1,759,024.08. Following the completion of the sale, the insider now directly owns 14,067 shares in the company, valued at $11,252,474.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,282 shares of company stock worth $14,788,771. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equinix

A number of institutional investors have recently modified their holdings of EQIX. Valley National Advisers Inc. boosted its position in shares of Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after buying an additional 26 shares during the last quarter. Providence Capital Advisors LLC purchased a new stake in shares of Equinix during the third quarter valued at $29,000. Criterion Capital Advisors LLC purchased a new stake in shares of Equinix during the fourth quarter valued at $32,000. Operose Advisors LLC purchased a new position in Equinix in the third quarter worth about $36,000. Finally, Asset Dedication LLC boosted its position in Equinix by 92.6% in the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 25 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.