Equinix (NASDAQ:EQIX) Price Target Cut to $669.00

Equinix (NASDAQ:EQIX) had its target price dropped by equities researchers at Barclays from $818.00 to $669.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential downside of 9.58% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lowered their price objective on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Truist Financial upped their price objective on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada upped their price objective on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 price objective on shares of Equinix in a research report on Wednesday, March 13th. Finally, BMO Capital Markets upped their price objective on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $862.50.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $739.85 on Wednesday. The business’s 50 day moving average price is $835.72 and its 200 day moving average price is $801.33. The firm has a market cap of $70.00 billion, a P/E ratio of 71.76, a P/E/G ratio of 1.92 and a beta of 0.58. Equinix has a 52 week low of $672.88 and a 52 week high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 729 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the sale, the insider now directly owns 14,002 shares in the company, valued at approximately $11,661,425.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,585 shares of company stock valued at $3,818,268. 0.32% of the stock is owned by insiders.

Institutional Trading of Equinix

Several large investors have recently added to or reduced their stakes in the stock. Goelzer Investment Management Inc. grew its holdings in Equinix by 0.3% in the 4th quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock valued at $3,364,000 after buying an additional 13 shares in the last quarter. Balentine LLC grew its holdings in shares of Equinix by 0.8% during the 3rd quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock worth $1,240,000 after purchasing an additional 14 shares during the period. Sage Mountain Advisors LLC grew its holdings in shares of Equinix by 3.9% during the 4th quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 14 shares during the period. DRW Securities LLC grew its holdings in shares of Equinix by 2.7% during the 2nd quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 14 shares during the period. Finally, Equitable Holdings Inc. grew its holdings in shares of Equinix by 0.5% during the 1st quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock worth $2,224,000 after purchasing an additional 14 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

About Equinix

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.