Cfra Reaffirms “Hold” Rating for Equinix (NASDAQ:EQIX)

Cfra restated their hold rating on shares of Equinix (NASDAQ:EQIX) in a report published on Tuesday morning, Benzinga reports.

Several other brokerages have also recently commented on EQIX. Truist Financial lifted their price objective on shares of Equinix from $915.00 to $935.00 and gave the company a buy rating in a research note on Wednesday, August 21st. The Goldman Sachs Group began coverage on shares of Equinix in a report on Monday, July 1st. They issued a buy rating and a $870.00 price objective on the stock. Wells Fargo & Company raised shares of Equinix from an equal weight rating to an overweight rating and upped their price objective for the company from $825.00 to $875.00 in a report on Tuesday, July 23rd. Royal Bank of Canada dropped their price objective on shares of Equinix from $950.00 to $922.00 and set an outperform rating on the stock in a report on Tuesday, May 28th. Finally, TD Cowen upped their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a buy rating in a report on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $891.57.

Equinix Stock Up 0.4 %

EQIX stock opened at $882.69 on Tuesday. 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 has a 52 week low of $677.80 and a 52 week high of $914.93. The stock has a market capitalization of $83.77 billion, a PE ratio of 88.16, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. The firm has a 50 day moving average of $826.88 and a 200 day moving average of $792.72.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company posted $8.04 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts forecast that Equinix will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.93%. Equinix’s dividend payout ratio is currently 170.91%.

Insider Activity at Equinix

In other Equinix news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Equinix news, insider Meredith Williamson sold 576 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Simon Miller sold 569 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the transaction, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CNB Bank increased its holdings in shares of Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the first quarter valued at approximately $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Equinix in the second quarter valued at approximately $36,000. Finally, Rise Advisors LLC acquired a new stake in shares of Equinix in the first quarter valued at approximately $39,000. 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.