Equinix, Inc. (NASDAQ:EQIX) Receives $976.81 Consensus Price Target from Analysts

Equinix, Inc. (NASDAQ:EQIX) has received an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $976.81.

EQIX has been the subject of a number of research reports. Truist Financial lifted their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Wells Fargo & Company lifted their price objective on Equinix from $985.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, October 4th. Evercore ISI lifted their price target on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, September 26th.

Insider Buying and Selling

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equinix

A number of large investors have recently modified their holdings of EQIX. State Street Corp increased its position in Equinix by 1.4% during the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC increased its position 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 worth $2,079,591,000 after acquiring an additional 33,277 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Equinix by 0.3% in 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 acquiring an additional 5,910 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Equinix by 1.5% during 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 purchasing an additional 19,844 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Down 0.6 %

Shares of NASDAQ EQIX opened at $942.66 on Wednesday. The stock has a market capitalization of $90.96 billion, a price-to-earnings ratio of 85.00, a price-to-earnings-growth ratio of 2.51 and a beta of 0.72. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The firm has a 50-day moving average price of $933.01 and a 200 day moving average price of $858.21. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

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.