Equinix, Inc. (NASDAQ:EQIX) Receives Consensus Rating of “Buy” from Brokerages

Equinix, Inc. (NASDAQ:EQIX) has received an average rating of “Buy” from the twenty-one analysts that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $994.82.

A number of equities research analysts have recently weighed in on EQIX shares. Oppenheimer lifted their price objective on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Evercore ISI lifted their price target on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their price target on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Finally, Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the sale, the chief financial officer now owns 18,966 shares in the company, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,701 shares of company stock valued at $15,441,464. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Equinix by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,147,559 shares of the financial services provider’s stock valued at $1,082,022,000 after purchasing an additional 65,104 shares during the period. Waverly Advisors LLC raised its position in Equinix by 4.9% during the fourth quarter. Waverly Advisors LLC now owns 10,023 shares of the financial services provider’s stock valued at $9,451,000 after purchasing an additional 472 shares during the period. Woodline Partners LP purchased a new stake in Equinix during the fourth quarter valued at approximately $7,649,000. Zurich Insurance Group Ltd FI raised its position in Equinix by 121.4% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 42,537 shares of the financial services provider’s stock valued at $40,108,000 after purchasing an additional 23,325 shares during the period. Finally, Vident Advisory LLC raised its position in Equinix by 34.5% during the fourth quarter. Vident Advisory LLC now owns 15,583 shares of the financial services provider’s stock valued at $14,694,000 after purchasing an additional 3,998 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

NASDAQ:EQIX opened at $933.60 on Thursday. The business’s 50-day moving average price is $934.88 and its two-hundred day moving average price is $897.69. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The stock has a market cap of $90.08 billion, a P/E ratio of 84.18, a PEG ratio of 2.23 and a beta of 0.72. 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 (NASDAQ:EQIX) last announced its quarterly earnings data 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 8.34% and a net margin of 12.29%. As a group, equities analysts predict that Equinix will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 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.