Brokerages Set Equinix, Inc. (NASDAQ:EQIX) PT at $959.64

Equinix, Inc. (NASDAQ:EQIX) has received an average rating of “Moderate Buy” from the twenty-eight analysts that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $959.6364.

Several brokerages have weighed in on EQIX. The Goldman Sachs Group downgraded Equinix from a “buy” rating to a “neutral” rating and set a $795.00 price objective for the company. in a research report on Thursday, December 18th. HSBC set a $1,050.00 price target on shares of Equinix and gave the company a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. raised their price target on shares of Equinix from $940.00 to $950.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective for the company in a research note on Wednesday, December 3rd. Finally, UBS Group set a $959.00 target price on shares of Equinix in a report on Wednesday, January 14th.

Insider Activity

In related news, EVP Raouf Abdel sold 927 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the completion of the transaction, the executive vice president owned 7,337 shares in the company, valued at $5,882,659.86. This represents a 11.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of Equinix stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the completion of the sale, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. This trade represents a 18.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 19,490 shares of company stock valued at $15,281,999. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Equinix

A number of institutional investors have recently bought and sold shares of EQIX. Westside Investment Management Inc. grew its holdings in shares of Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 21 shares during the period. Ameriflex Group Inc. grew its stake in Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 26 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Equinix during the second quarter valued at $26,000. Bank of Jackson Hole Trust lifted its position in Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 14 shares during the period. Finally, Abound Wealth Management boosted its holdings in shares of Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 23 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Stock Down 1.3%

EQIX opened at $810.38 on Thursday. The company has a market cap of $79.57 billion, a P/E ratio of 74.21, a P/E/G ratio of 1.28 and a beta of 1.06. Equinix has a 12 month low of $701.41 and a 12 month high of $953.41. The business’s 50-day moving average price is $770.83 and its 200-day moving average price is $785.24. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.32.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.