Equinix (NASDAQ:EQIX) Price Target Lowered to $1,075.00 at Wells Fargo & Company

Equinix (NASDAQ:EQIX) had its price objective cut by stock analysts at Wells Fargo & Company from $1,100.00 to $1,075.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 14.79% from the stock’s previous close.

EQIX has been the subject of a number of other research reports. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank boosted their target price on Equinix from $985.00 to $1,114.00 and gave the stock a “sector outperform” rating in a research note on Thursday, January 23rd. Truist Financial upped their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. TD Cowen boosted their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $996.06.

Equinix Stock Performance

Shares of Equinix stock opened at $936.50 on Tuesday. The company has a market capitalization of $90.36 billion, a PE ratio of 84.45, a P/E/G ratio of 2.18 and a beta of 0.72. The company has a 50-day simple moving average of $941.00 and a two-hundred day simple moving average of $889.14. Equinix has a one year low of $684.14 and a one year high of $994.03. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares in the company, valued at approximately $4,518,979.08. This trade represents a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the transaction, the chief executive officer now owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,823 shares of company stock worth $16,474,442 over the last quarter. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

A number of institutional investors and hedge funds have recently made changes to their positions in EQIX. SRS Capital Advisors Inc. lifted its position in shares of Equinix by 107.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 83 shares of the financial services provider’s stock valued at $78,000 after buying an additional 43 shares in the last quarter. Norden Group LLC purchased a new position in Equinix during the fourth quarter valued at $226,000. Smartleaf Asset Management LLC grew its position in shares of Equinix by 55.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,294 shares of the financial services provider’s stock valued at $1,211,000 after purchasing an additional 461 shares during the period. Capital Wealth Planning LLC increased its stake in shares of Equinix by 74.8% during the fourth quarter. Capital Wealth Planning LLC now owns 243 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 104 shares in the last quarter. Finally, Sherman Asset Management Inc. acquired a new position in shares of Equinix during the 4th quarter worth about $135,000. 94.94% of the stock is currently owned by hedge funds and other 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.