Equinix (NASDAQ:EQIX) Price Target Raised to $1,040.00

Equinix (NASDAQ:EQIX) had its price target hoisted by Scotiabank from $1,033.00 to $1,040.00 in a report published on Monday morning,Benzinga reports. They currently have a sector outperform rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets lowered their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Barclays lifted their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Wells Fargo & Company lowered their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus boosted their price target on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada boosted their price target on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $995.24.

Equinix Stock Performance

NASDAQ EQIX opened at $921.02 on Monday. Equinix has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock has a market cap of $89.64 billion, a price-to-earnings ratio of 107.72, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72. The business has a fifty day moving average of $926.24 and a 200-day moving average of $906.92. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, analysts predict that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares in the company, valued at approximately $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,054 shares of company stock worth $17,466,950 over the last quarter. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

Institutional investors and hedge funds have recently bought and sold shares of the company. Inspire Trust Co. N.A. lifted its holdings in Equinix by 0.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 11 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Equinix by 1.9% during the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider’s stock worth $543,000 after buying an additional 11 shares during the last quarter. Legacy Financial Advisors Inc. lifted its holdings in Equinix by 3.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock worth $340,000 after buying an additional 11 shares during the last quarter. GS Investments Inc. lifted its holdings in Equinix by 0.5% during the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider’s stock worth $2,087,000 after buying an additional 12 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in Equinix by 1.8% during the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider’s stock worth $633,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

About Equinix

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.