Equinix (NASDAQ:EQIX) Price Target Lowered to $1,053.00 at Mizuho

Equinix (NASDAQ:EQIX) had its price objective reduced by Mizuho from $1,094.00 to $1,053.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on EQIX. BMO Capital Markets cut their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a report on Thursday, February 13th. Finally, Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $1,007.59.

Equinix Price Performance

Shares of EQIX opened at $803.00 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock’s 50 day moving average is $895.96 and its two-hundred day moving average is $908.43. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a market capitalization of $78.16 billion, a PE ratio of 93.92, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. Research analysts anticipate that Equinix will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were issued a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.34%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.72, for a total transaction of $308,168.52. Following the completion of the sale, the insider now owns 1,430 shares of the company’s stock, valued at approximately $1,292,319.60. This trade represents a 19.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 in the last 90 days. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently bought and sold shares of EQIX. Milestone Asset Management Group LLC bought a new stake in shares of Equinix in the 4th quarter valued at approximately $248,000. Fairtree Asset Management Pty Ltd bought a new stake in Equinix during the fourth quarter valued at $462,000. Lansforsakringar Fondforvaltning AB publ bought a new stake in Equinix during the fourth quarter valued at $30,290,000. Mattson Financial Services LLC raised its holdings in shares of Equinix by 19.9% during the fourth quarter. Mattson Financial Services LLC now owns 1,882 shares of the financial services provider’s stock worth $1,671,000 after purchasing an additional 312 shares during the period. Finally, Phocas Financial Corp. bought a new position in shares of Equinix in the 4th quarter worth about $565,000. 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.