Equinix (NASDAQ:EQIX) Price Target Raised to $1,090.00

Equinix (NASDAQ:EQIX) had its price objective raised by Truist Financial from $935.00 to $1,090.00 in a report issued on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft upped their target price on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group raised their target price on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Scotiabank lifted their target price on shares of Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Mizuho increased their price target on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a research report on Thursday, September 12th. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $962.56.

Equinix Trading Up 0.2 %

Shares of EQIX opened at $981.48 on Friday. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $94.70 billion, a P/E ratio of 88.50, a PEG ratio of 2.53 and a beta of 0.71. The firm’s 50-day moving average is $902.59 and its two-hundred day moving average is $833.34.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be issued a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.74%. Equinix’s payout ratio is 153.65%.

Insider Buying and Selling

In other news, EVP Scott Crenshaw sold 1,107 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the sale, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The trade was a 99.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 9.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,754 shares of company stock valued at $11,666,756. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Several institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after buying an additional 33,277 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Equinix by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Equinix by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after acquiring an additional 19,844 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after purchasing an additional 53,729 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.