Equinix (NASDAQ:EQIX) Given New $1,053.00 Price Target at Mizuho

Equinix (NASDAQ:EQIX) had its price target reduced by equities researchers at Mizuho from $1,094.00 to $1,053.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price target would suggest a potential upside of 27.71% from the stock’s current price.

EQIX has been the subject of a number of other research reports. Wells Fargo & Company decreased their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Scotiabank raised their price objective on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Truist Financial dropped their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Oppenheimer raised their price target on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Barclays increased their price objective on Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $993.94.

Equinix Price Performance

EQIX stock opened at $824.50 on Friday. The stock has a market cap of $80.25 billion, a PE ratio of 96.57, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The stock has a 50-day moving average price of $898.21 and a two-hundred day moving average price of $908.63. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equities analysts forecast that Equinix will post 33.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the sale, the insider now owns 1,245 shares of the company’s stock, valued at approximately $1,157,513.85. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EQIX. Pinney & Scofield Inc. acquired a new stake in Equinix during the fourth quarter worth about $28,000. Kestra Investment Management LLC bought a new position in Equinix in the fourth quarter valued at approximately $31,000. Pacific Center for Financial Services raised its position in Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Equinix during the fourth quarter worth $39,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Equinix in the 4th quarter valued at $42,000. Institutional investors own 94.94% of the company’s stock.

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.