Barclays Issues Positive Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price objective upped by Barclays from $822.00 to $834.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

EQIX has been the subject of several other research reports. Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Scotiabank raised their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. BMO Capital Markets decreased their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Truist Financial dropped their price target on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $990.06.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $851.72 on Thursday. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The business’s 50 day moving average price is $904.87 and its 200 day moving average price is $908.27. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $82.90 billion, a P/E ratio of 99.62, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, sell-side analysts expect that Equinix will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.20%. The ex-dividend date was Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is 219.42%.

Insider Transactions at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Equinix during the third quarter worth $224,000. Empowered Funds LLC raised its position in Equinix by 8.9% in the third quarter. Empowered Funds LLC now owns 2,100 shares of the financial services provider’s stock valued at $1,864,000 after purchasing an additional 171 shares during the period. Caprock Group LLC lifted its stake in shares of Equinix by 15.0% in the 3rd quarter. Caprock Group LLC now owns 2,036 shares of the financial services provider’s stock valued at $1,808,000 after purchasing an additional 265 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Equinix by 4.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,168 shares of the financial services provider’s stock worth $11,688,000 after purchasing an additional 531 shares during the period. 94.94% of the stock is currently 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.