Equinix (NASDAQ:EQIX) Cut to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of Equinix (NASDAQ:EQIX) from an outperform rating to a peer perform rating in a research report report published on Monday, Marketbeat reports.

Other research analysts have also recently issued reports about the stock. New Street Research raised shares of Equinix to a “strong-buy” rating in a research report on Monday, April 28th. Oppenheimer raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Scotiabank reduced their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus raised their price objective on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Finally, Barclays raised their price objective on shares of Equinix from $834.00 to $837.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 27th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $1,004.80.

Equinix Stock Performance

Shares of EQIX stock opened at $893.70 on Monday. The firm has a 50-day moving average of $845.84 and a 200-day moving average of $890.18. The company has a market cap of $87.42 billion, a P/E ratio of 104.53, a P/E/G ratio of 1.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix has a one year low of $701.41 and a one year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the company posted $8.86 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts forecast that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix’s payout ratio is 195.01%.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the sale, the director now directly owns 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the completion of the transaction, the insider now directly owns 1,842 shares of the company’s stock, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Activest Wealth Management raised its position in shares of Equinix by 121.4% in the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 17 shares during the last quarter. Pinney & Scofield Inc. purchased a new position in shares of Equinix in the 4th quarter valued at approximately $28,000. GKV Capital Management Co. Inc. purchased a new position in shares of Equinix in the 1st quarter valued at approximately $30,000. Kestra Investment Management LLC purchased a new position in shares of Equinix in the 4th quarter valued at approximately $31,000. Finally, Saudi Central Bank purchased a new position in shares of Equinix in the 1st quarter valued at approximately $31,000. 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.