Equinix (NASDAQ:EQIX) Given New $1,033.00 Price Target at Scotiabank

Equinix (NASDAQ:EQIX) had its target price decreased by research analysts at Scotiabank from $1,114.00 to $1,033.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective points to a potential upside of 12.93% from the company’s current price.

Several other research analysts have also issued reports on the company. Stifel Nicolaus raised their price target on Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. TD Cowen raised their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. BMO Capital Markets dropped their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday. Finally, Truist Financial raised their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, November 29th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $994.82.

Equinix Stock Performance

NASDAQ:EQIX traded down $20.45 during mid-day trading on Thursday, hitting $914.75. 536,336 shares of the company’s stock traded hands, compared to its average volume of 492,115. The firm has a 50 day moving average of $936.92 and a two-hundred day moving average of $894.76. 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 $88.26 billion, a price-to-earnings ratio of 82.45, a price-to-earnings-growth ratio of 2.23 and a beta of 0.72. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. On average, equities analysts forecast that Equinix will post 31.09 earnings per share for the current fiscal year.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares in the company, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,801 shares of company stock worth $15,530,564 over the last quarter. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Equinix by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider’s stock valued at $11,941,418,000 after buying an additional 88,654 shares in the last quarter. State Street Corp raised its position in Equinix by 1.4% during the third 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 increased its holdings in shares of Equinix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider’s stock worth $2,269,037,000 after buying an additional 62,005 shares in the last quarter. FMR LLC increased its holdings in shares of Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider’s stock worth $2,135,606,000 after buying an additional 81,144 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Equinix by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.