Equinix, Inc. (NASDAQ:EQIX) Receives $1,001.41 Average Price Target from Analysts

Shares of Equinix, Inc. (NASDAQ:EQIX) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven research firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $1,001.4091.

A number of equities analysts have issued reports on the company. Guggenheim upped their target price on Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 price objective on Equinix in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft set a $915.00 price objective on shares of Equinix in a report on Tuesday, January 6th. Barclays reissued a “positive” rating and set a $870.00 target price on shares of Equinix in a report on Tuesday, January 13th. Finally, UBS Group raised their price target on shares of Equinix from $950.00 to $1,010.00 and gave the company a “buy” rating in a research note on Thursday, February 12th.

Equinix Trading Up 0.9%

Shares of Equinix stock opened at $960.52 on Monday. The firm’s 50 day moving average is $823.68 and its 200 day moving average is $798.58. The firm has a market capitalization of $94.37 billion, a PE ratio of 69.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06. Equinix has a 1 year low of $701.41 and a 1 year high of $992.90. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.92 EPS. Equities research analysts forecast that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 25th will be given a $5.16 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. Equinix’s dividend payout ratio is presently 136.44%.

Insider Activity at Equinix

In related news, CEO Adaire Fox-Martin sold 2,894 shares of Equinix stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total value of $2,115,774.46. Following the transaction, the chief executive officer directly owned 12,366 shares of the company’s stock, valued at $9,040,658.94. The trade was a 18.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raouf Abdel sold 927 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $743,250.06. Following the sale, the executive vice president directly owned 7,337 shares of the company’s stock, valued at $5,882,659.86. This represents a 11.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 14,353 shares of company stock valued at $11,283,043 over the last ninety days. Insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of institutional investors have recently bought and sold shares of the company. Brighton Jones LLC grew its stake in Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in shares of Equinix by 11.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock worth $425,000 after buying an additional 54 shares in the last quarter. Empowered Funds LLC grew its position in shares of Equinix by 21.8% during the 1st quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after buying an additional 546 shares during the period. Schnieders Capital Management LLC. bought a new stake in shares of Equinix in the 2nd quarter valued at $231,000. Finally, Cullen Frost Bankers Inc. lifted its position in shares of Equinix by 64.9% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 122 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 48 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.