Equinix (NASDAQ:EQIX) Price Target Raised to $1,240.00

Equinix (NASDAQ:EQIX) had its target price hoisted by BTIG Research from $1,210.00 to $1,240.00 in a research note released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the financial services provider’s stock.

EQIX has been the subject of several other research reports. Scotiabank reissued a “sector perform” rating and set a $1,208.00 price objective on shares of Equinix in a report on Thursday, July 30th. Truist Financial raised their target price on shares of Equinix from $1,215.00 to $1,220.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citigroup reiterated a “market outperform” rating on shares of Equinix in a research report on Tuesday, August 4th. Guggenheim reissued a “buy” rating and issued a $1,235.00 price target on shares of Equinix in a research note on Wednesday, May 20th. Finally, Zacks Research lowered shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus price target of $1,204.80.

Equinix Price Performance

NASDAQ:EQIX opened at $1,037.72 on Thursday. The firm has a market capitalization of $102.39 billion, a price-to-earnings ratio of 66.82, a P/E/G ratio of 1.48 and a beta of 0.99. Equinix has a 52-week low of $720.62 and a 52-week high of $1,128.68. The stock has a fifty day moving average of $1,044.63 and a 200 day moving average of $1,039.52. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix (NASDAQ:EQIX) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, topping the consensus estimate of $4.73 by $7.05. Equinix had a return on equity of 10.76% and a net margin of 15.64%.The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same period in the previous year, the business earned $9.91 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, research analysts expect that Equinix will post 38.23 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be issued a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, August 19th. Equinix’s dividend payout ratio is currently 132.90%.

Insider Buying and Selling at Equinix

In related news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $1,103.58, for a total value of $137,947.50. Following the sale, the director owned 13,734 shares in the company, valued at $15,156,567.72. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kurt Pletcher sold 135 shares of Equinix stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $1,075.50, for a total transaction of $145,192.50. Following the sale, the insider directly owned 4,077 shares in the company, valued at $4,384,813.50. The trade was a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 4,770 shares of company stock valued at $4,884,197 in the last quarter. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Moore Capital Management LP grew its holdings in Equinix by 235.7% during the 2nd quarter. Moore Capital Management LP now owns 7,675 shares of the financial services provider’s stock valued at $8,000,000 after purchasing an additional 5,389 shares during the last quarter. Empowered Funds LLC purchased a new stake in Equinix in the 2nd quarter worth about $5,778,000. Bamco Inc. NY bought a new stake in Equinix in the second quarter worth about $203,930,000. Legal & General Group Plc purchased a new position in shares of Equinix during the second quarter valued at approximately $1,181,260,000. Finally, Adelante Capital Management LLC purchased a new position in shares of Equinix during the second quarter valued at approximately $129,154,000. 94.94% of the stock is currently owned by institutional investors.

About Equinix

Equinix, Inc is a global digital infrastructure company that operates data centers and provides interconnection and cloud connectivity services. Its facilities, known as International Business Exchange (IBX) data centers, enable businesses, cloud providers, network operators, financial institutions and other organizations to securely house technology infrastructure and exchange data.

The company’s Platform Equinix services include colocation, private and public cloud connectivity, network interconnection, managed infrastructure and digital services.