Equinix (NASDAQ:EQIX) Coverage Initiated at JMP Securities

Equities researchers at JMP Securities began coverage on shares of Equinix (NASDAQ:EQIX) in a report released on Monday, MarketBeat.com reports. The firm set an “outperform” rating and a $1,200.00 price target on the financial services provider’s stock. JMP Securities’ target price would suggest a potential upside of 32.33% from the stock’s current price.

EQIX has been the subject of several other research reports. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and increased their price objective for the company from $865.00 to $1,000.00 in a research report on Friday, October 4th. Evercore ISI boosted their price objective on Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research report on Friday, November 29th. Finally, Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and a consensus price target of $997.53.

Equinix Stock Up 0.7 %

Shares of EQIX opened at $906.81 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $87.50 billion, a price-to-earnings ratio of 81.77, a price-to-earnings-growth ratio of 2.20 and a beta of 0.73. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03. The business’s 50 day simple moving average is $944.33 and its 200-day simple moving average is $884.33.

Insider Buying and Selling

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the sale, the chairman now owns 15,233 shares in the company, valued at $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction on Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the transaction, the insider now owns 6,505 shares in the company, valued at $5,886,959.95. This represents a 20.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,549 shares of company stock valued at $18,036,455 over the last three months. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EQIX. State Street Corp grew its holdings in Equinix by 1.4% in the third 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 during the last quarter. Geode Capital Management LLC grew its stake in Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after buying an additional 33,277 shares during the last quarter. Principal Financial Group Inc. increased its position in 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after buying an additional 203,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after acquiring an additional 53,729 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.