Equinix (NASDAQ:EQIX) Price Target Lowered to $1,065.00 at Wells Fargo & Company

Equinix (NASDAQ:EQIX) had its target price cut by Wells Fargo & Company from $1,075.00 to $1,065.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. BMO Capital Markets lifted their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 6th. Truist Financial lifted 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, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $994.82.

Equinix Trading Down 1.3 %

Shares of EQIX stock opened at $923.00 on Thursday. The company has a market capitalization of $89.06 billion, a PE ratio of 83.23, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The business’s fifty day moving average is $936.92 and its 200 day moving average is $894.76. 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 (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, equities research analysts anticipate that Equinix will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 199.30%.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of Equinix stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares in the company, valued at $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total transaction of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. The trade was a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Equinix

Several hedge funds and other institutional investors have recently modified their holdings of EQIX. Kestra Investment Management LLC purchased a new stake in Equinix in the fourth quarter worth about $31,000. GHP Investment Advisors Inc. raised its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its stake in shares of 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 purchasing an additional 13 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Equinix during the fourth quarter valued at approximately $39,000. Finally, Sierra Ocean LLC purchased a new stake in Equinix in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.