Equinix (NASDAQ:EQIX) PT Raised to $975.00

Equinix (NASDAQ:EQIX) had its target price raised by stock analysts at JPMorgan Chase & Co. from $950.00 to $975.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 9.97% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Wells Fargo & Company upgraded Equinix from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Mizuho lifted their target price on Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Truist Financial lifted their target price on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $897.13.

Equinix Trading Up 0.4 %

EQIX opened at $886.60 on Tuesday. The firm has a market cap of $84.14 billion, a price-to-earnings ratio of 88.93, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. Equinix has a 52 week low of $677.80 and a 52 week high of $914.93. The business’s 50 day moving average is $834.03 and its two-hundred day moving average is $792.47. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion for 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%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $8.04 EPS. On average, research analysts predict that Equinix will post 31.01 EPS for the current year.

Insider Buying and Selling

In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Simon Miller sold 569 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at $4,559,334.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Jonathan Lin sold 93 shares of Equinix stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the transaction, the executive vice president now directly owns 7,141 shares of the company’s stock, valued at $5,862,689.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Equinix

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. Cohen & Steers Inc. raised its holdings in shares of Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock worth $2,087,096,000 after acquiring an additional 13,988 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock worth $1,428,606,000 after acquiring an additional 238,883 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after acquiring an additional 47,795 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Equinix by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after purchasing an additional 19,844 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

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.