Raymond James Financial Downgrades Equinix (NASDAQ:EQIX) to Market Perform

Equinix (NASDAQ:EQIX) was downgraded by stock analysts at Raymond James Financial from a “strong-buy” rating to a “market perform” rating in a research note issued to investors on Thursday,Finviz reports.

EQIX has been the subject of several other reports. BNP Paribas raised shares of Equinix to a “strong-buy” rating in a research report on Thursday, May 1st. Truist Financial lowered their price objective on shares of Equinix from $990.00 to $986.00 and set a “buy” rating for the company in a report on Monday, May 12th. Wolfe Research cut Equinix from an “outperform” rating to a “peer perform” rating in a research report on Monday, June 9th. Stifel Nicolaus increased their target price on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, TD Securities raised their target price on Equinix from $978.00 to $1,018.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix currently has an average rating of “Buy” and a consensus price target of $994.05.

Equinix Trading Down 9.1%

NASDAQ EQIX opened at $824.31 on Thursday. The stock has a market cap of $80.63 billion, a P/E ratio of 85.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.97. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The stock has a 50 day simple moving average of $868.26 and a two-hundred day simple moving average of $883.95. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.86 earnings per share. On average, analysts forecast that Equinix will post 33.1 earnings per share for the current year.

Insider Transactions at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director now owns 17,569 shares of the company’s stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer now owns 9,615 shares of the company’s stock, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,176 shares of company stock worth $2,808,008. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Equinix during the 4th quarter valued at $2,027,000. IFP Advisors Inc lifted its holdings in shares of Equinix by 434.1% during the 4th quarter. IFP Advisors Inc now owns 486 shares of the financial services provider’s stock valued at $459,000 after buying an additional 395 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock worth $713,000 after buying an additional 12 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Equinix by 1.7% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,224 shares of the financial services provider’s stock worth $1,154,000 after buying an additional 20 shares during the last quarter. 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.