Brokerages Set Equinix, Inc. (NASDAQ:EQIX) Target Price at $976.81

Shares of Equinix, Inc. (NASDAQ:EQIX) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $976.81.

Several brokerages have commented on EQIX. TD Cowen increased their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets lifted their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their price target on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th. Finally, Evercore ISI increased their target price on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the transaction, the director now owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the sale, the chairman now owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,412 shares of company stock worth $18,826,100. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of institutional investors and hedge funds have recently bought and sold shares of EQIX. GHP Investment Advisors Inc. lifted its position in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the last quarter. Sugarloaf Wealth Management LLC lifted its position in shares of Equinix by 100.0% during the third quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 20 shares in the last quarter. Dunhill Financial LLC grew its stake in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the last quarter. Finally, Webster Bank N. A. increased its holdings in shares of Equinix by 112.5% in the third quarter. Webster Bank N. A. now owns 51 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $934.00 on Friday. The business’s 50-day simple moving average is $941.69 and its 200-day simple moving average is $878.78. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market cap of $90.12 billion, a price-to-earnings ratio of 84.22, a P/E/G ratio of 2.18 and a beta of 0.73.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio is 153.65%.

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.