Evercore ISI Boosts Equinix (NASDAQ:EQIX) Price Target to $975.00

Equinix (NASDAQ:EQIX) had its price objective boosted by Evercore ISI from $945.00 to $975.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Several other analysts also recently weighed in on EQIX. The Goldman Sachs Group lifted their target price on Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Mizuho lifted their price objective on shares of Equinix from $873.00 to $971.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. Wells Fargo & Company upped their target price on shares of Equinix from $875.00 to $975.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, Cfra reiterated a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $918.40.

Equinix Price Performance

EQIX stock opened at $914.33 on Wednesday. The stock has a market cap of $86.78 billion, a PE ratio of 91.71, a P/E/G ratio of 2.13 and a beta of 0.71. Equinix has a 12 month low of $684.14 and a 12 month high of $943.02. The company has a 50-day moving average price of $859.85 and a 200 day moving average price of $800.30. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the company posted $8.04 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Equinix will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were issued a $4.26 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 1.86%. Equinix’s payout ratio is 170.91%.

Insiders Place Their Bets

In other news, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Simon Miller sold 569 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the transaction, the chief accounting officer now owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Charles J. Meyers sold 6,234 shares of Equinix stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the sale, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,043 shares of company stock worth $8,282,119. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. CNB Bank increased its stake in Equinix by 172.7% during the 1st quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after buying an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Equinix in the second quarter worth approximately $30,000. LRI Investments LLC purchased a new stake in shares of Equinix during the first quarter worth approximately $31,000. GHP Investment Advisors Inc. raised its stake in Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its holdings in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds 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.