Equinix (NASDAQ:EQIX) Stock Price Up 0.5% After Analyst Upgrade

Equinix, Inc. (NASDAQ:EQIX)’s share price shot up 0.5% during mid-day trading on Thursday after Stifel Nicolaus raised their price target on the stock from $995.00 to $1,080.00. Stifel Nicolaus currently has a buy rating on the stock. Equinix traded as high as $924.73 and last traded at $923.10. 59,722 shares were traded during trading, a decline of 89% from the average session volume of 525,040 shares. The stock had previously closed at $918.94.

EQIX has been the topic of a number of other reports. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and increased their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Barclays increased their price objective on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday. Mizuho increased their target price on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, Evercore ISI increased their target price on shares of Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $952.88.

Insider Activity

In other Equinix news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now owns 4 shares in the company, valued at $3,262.40. This trade represents a 99.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 44.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,754 shares of company stock worth $11,666,756 in the last 90 days. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Hedge funds have recently modified their holdings of the business. BDF Gestion bought a new stake in shares of Equinix in the second quarter valued at approximately $2,659,000. Van ECK Associates Corp lifted its position in Equinix by 9.2% in the third quarter. Van ECK Associates Corp now owns 20,309 shares of the financial services provider’s stock worth $18,099,000 after purchasing an additional 1,716 shares during the period. Bessemer Group Inc. lifted its position in Equinix by 159.4% in the first quarter. Bessemer Group Inc. now owns 2,246 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 1,380 shares during the period. E. Ohman J or Asset Management AB lifted its position in Equinix by 3.0% in the third quarter. E. Ohman J or Asset Management AB now owns 37,420 shares of the financial services provider’s stock worth $33,215,000 after purchasing an additional 1,103 shares during the period. Finally, Duff & Phelps Investment Management Co. lifted its position in Equinix by 25.9% in the second quarter. Duff & Phelps Investment Management Co. now owns 369,437 shares of the financial services provider’s stock worth $279,516,000 after purchasing an additional 75,888 shares during the period. 94.94% of the stock is owned by institutional investors.

Equinix Stock Performance

The stock has a market capitalization of $89.33 billion, a P/E ratio of 83.24, a PEG ratio of 2.32 and a beta of 0.71. The firm has a 50-day moving average of $889.31 and a 200 day moving average of $822.27. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.84%. Equinix’s dividend payout ratio is currently 153.65%.

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.