Mizuho Raises Equinix (NASDAQ:EQIX) Price Target to $971.00

Equinix (NASDAQ:EQIX) had its target price upped by Mizuho from $873.00 to $971.00 in a report issued on Thursday morning, Benzinga reports. Mizuho currently has an outperform rating on the financial services provider’s stock.

Several other research analysts also recently commented on the stock. TD Cowen lifted their target price on shares of Equinix from $859.00 to $865.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Wells Fargo & Company raised shares of Equinix from an equal weight rating to an overweight rating and lifted their target price for the stock from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Equinix from $880.00 to $910.00 and gave the stock a buy rating in a research note on Tuesday, August 13th. Barclays lifted their target price on shares of Equinix from $669.00 to $671.00 and gave the stock an equal weight rating in a research note on Thursday, May 30th. Finally, Royal Bank of Canada reduced their price objective on shares of Equinix from $950.00 to $922.00 and set an outperform rating on the stock in a research report on Tuesday, May 28th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $883.71.

Equinix Trading Up 0.3 %

EQIX stock opened at $871.54 on Thursday. The company has a market capitalization of $82.74 billion, a PE ratio of 87.42, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. Equinix has a one year low of $677.80 and a one year high of $914.93. The company’s 50 day moving average price is $811.47 and its two-hundred day moving average price is $792.85. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the business posted $8.04 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts predict that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Insider Activity

In other news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the transaction, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Equinix by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after purchasing an additional 238,815 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Equinix by 0.5% during the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after acquiring an additional 13,988 shares during the period. Norges Bank bought a new position in Equinix during the 4th quarter valued at about $1,574,132,000. Principal Financial Group Inc. lifted its stake in Equinix by 14.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider’s stock valued at $1,428,606,000 after acquiring an additional 238,883 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Equinix by 3.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after acquiring an additional 47,795 shares during the period. 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.