Wells Fargo & Company Cuts Equinix (NASDAQ:EQIX) Price Target to $1,075.00

Equinix (NASDAQ:EQIX) had its price objective decreased by Wells Fargo & Company from $1,100.00 to $1,075.00 in a research note released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Barclays upped their target price on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Royal Bank of Canada lifted their target price on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial increased their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $996.06.

Equinix Stock Performance

Shares of EQIX opened at $938.34 on Tuesday. The firm has a fifty day moving average of $940.14 and a 200-day moving average of $889.47. The company has a market cap of $90.54 billion, a price-to-earnings ratio of 84.61, a price-to-earnings-growth ratio of 2.18 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the transaction, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,801 shares of company stock worth $15,530,564 in the last three months. 0.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Equinix

Several hedge funds have recently modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in shares of Equinix during the 4th quarter worth approximately $31,000. GHP Investment Advisors Inc. boosted its stake in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the period. Sugarloaf Wealth Management LLC raised its stake in shares of Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new position in shares of Equinix during the 4th quarter worth about $39,000. 94.94% of the stock is owned by 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.