Equinix (NASDAQ:EQIX) Sets New 1-Year High – Time to Buy?

Equinix, Inc. (NASDAQ:EQIX) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $916.85 and last traded at $916.85, with a volume of 122633 shares changing hands. The stock had previously closed at $895.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Mizuho boosted their price target on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Truist Financial boosted their target price on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. The Goldman Sachs Group upped their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company raised their target price on shares of Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $918.40.

Equinix Price Performance

The stock has a market capitalization of $89.15 billion, a price-to-earnings ratio of 89.85, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a fifty day simple moving average of $858.53 and a 200 day simple moving average of $799.63. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.04 earnings per share. Equities research analysts forecast that Equinix, Inc. will post 31.01 EPS for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Buying and Selling

In other news, EVP Scott Crenshaw sold 1,107 shares of Equinix stock in a transaction on Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at $3,262.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the completion of the sale, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Meredith Williamson sold 576 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total value of $474,733.44. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock valued at $8,282,119 over the last quarter. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently bought and sold shares of the business. CNB Bank grew its holdings in shares of Equinix by 172.7% during the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Equinix in the 2nd quarter valued at about $30,000. LRI Investments LLC acquired a new position in Equinix during the 1st quarter valued at about $31,000. GHP Investment Advisors Inc. raised its stake in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. 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.