Equinix, Inc. (NASDAQ:EQIX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Equinix, Inc. (NASDAQ:EQIX) have earned an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $903.80.

Several research analysts recently commented on EQIX shares. Evercore ISI upgraded shares of Equinix to a “strong-buy” rating in a report on Wednesday, October 2nd. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Mizuho lifted their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th.

Equinix Trading Down 0.7 %

NASDAQ EQIX opened at $870.54 on Friday. 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 $843.93 and its 200 day moving average price is $794.08. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $82.62 billion, a price-to-earnings ratio of 87.32, a PEG ratio of 2.15 and a beta of 0.71.

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 net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the business posted $8.04 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts predict that Equinix will post 31.01 EPS for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Insiders Place Their Bets

In other news, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Meredith Williamson sold 576 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. Insiders sold a total of 10,043 shares of company stock valued at $8,282,119 over the last 90 days. 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 modified their holdings of EQIX. CNB Bank raised its position in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix during the 2nd quarter worth about $30,000. LRI Investments LLC acquired a new stake in Equinix during the 1st quarter worth about $31,000. Meeder Asset Management Inc. acquired a new stake in Equinix during the 2nd quarter worth about $36,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in Equinix by 100.0% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after buying an additional 20 shares during the period. 94.94% of the stock is currently owned by institutional investors.

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.