Equinix (NASDAQ:EQIX) Coverage Initiated at Mizuho

Analysts at Mizuho started coverage on shares of Equinix (NASDAQ:EQIX) in a report released on Thursday, MarketBeat reports. The firm set an “outperform” rating and a $873.00 price target on the financial services provider’s stock. Mizuho’s price objective suggests a potential upside of 8.47% from the company’s previous close.

A number of other analysts have also commented on EQIX. Oppenheimer boosted their target price on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Truist Financial lifted their price target on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Stifel Nicolaus reiterated a “buy” rating and set a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. TD Cowen cut their price target on Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, The Goldman Sachs Group assumed coverage on Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price target for the company. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $872.38.

Equinix Stock Performance

Shares of Equinix stock opened at $804.84 on Thursday. Equinix has a one year low of $677.80 and a one year high of $914.93. The firm has a market capitalization of $76.39 billion, a price-to-earnings ratio of 80.73, a PEG ratio of 2.70 and a beta of 0.68. The business has a 50-day simple moving average of $763.77 and a 200 day simple moving average of $797.69. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10.

Insider Activity at Equinix

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

A number of hedge funds and other institutional investors have recently bought and sold shares of EQIX. B. Riley Wealth Advisors Inc. raised its holdings in Equinix by 5.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,514 shares of the financial services provider’s stock valued at $2,552,000 after acquiring an additional 182 shares during the period. Headinvest LLC bought a new stake in Equinix during the 3rd quarter valued at $66,000. Anchor Investment Management LLC bought a new position in shares of Equinix in the fourth quarter worth $49,000. DNB Asset Management AS raised its position in shares of Equinix by 20.3% in the fourth quarter. DNB Asset Management AS now owns 24,459 shares of the financial services provider’s stock worth $19,699,000 after buying an additional 4,132 shares in the last quarter. Finally, InTrack Investment Management Inc purchased a new stake in shares of Equinix in the fourth quarter worth $462,000. Institutional investors 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.