Analysts Set Equinix, Inc. (NASDAQ:EQIX) PT at $872.33

Shares of Equinix, Inc. (NASDAQ:EQIXGet Free Report) have earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $872.33.

EQIX has been the topic of a number of analyst reports. 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 report on Thursday, March 28th. The Goldman Sachs Group started coverage on Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price objective on the stock. TD Cowen decreased their price target on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Barclays boosted their price target on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th.

Get Our Latest Stock Report on Equinix

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now directly owns 12,758 shares in the company, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Equinix by 4.6% during the 3rd quarter. AQR Capital Management LLC now owns 24,697 shares of the financial services provider’s stock worth $17,937,000 after purchasing an additional 1,095 shares during the period. Truist Financial Corp boosted its position in Equinix by 44.6% during the 3rd quarter. Truist Financial Corp now owns 18,215 shares of the financial services provider’s stock worth $13,229,000 after purchasing an additional 5,620 shares during the period. Ameriprise Financial Inc. boosted its position in Equinix by 27.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock worth $313,461,000 after purchasing an additional 92,575 shares during the period. Earnest Partners LLC boosted its position in Equinix by 5,200.0% during the 3rd quarter. Earnest Partners LLC now owns 2,014 shares of the financial services provider’s stock worth $1,463,000 after purchasing an additional 1,976 shares during the period. Finally, Lido Advisors LLC boosted its position in Equinix by 10.6% during the 3rd quarter. Lido Advisors LLC now owns 720 shares of the financial services provider’s stock worth $523,000 after purchasing an additional 69 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Shares of EQIX opened at $766.83 on Wednesday. Equinix has a twelve month low of $677.80 and a twelve month high of $914.93. The stock’s 50 day moving average is $758.08 and its two-hundred day moving average is $797.81. The firm has a market capitalization of $72.78 billion, a PE ratio of 76.91, a P/E/G ratio of 2.63 and a beta of 0.68. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were issued a $4.26 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $17.04 annualized dividend and a yield of 2.22%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

About Equinix

(Get Free Report

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.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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