Equinix (NASDAQ:EQIX) Stock Rating Upgraded by HSBC

Equinix (NASDAQ:EQIX) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued on Friday, Marketbeat reports. The firm currently has a $1,000.00 target price on the financial services provider’s stock, up from their prior target price of $865.00. HSBC’s price objective points to a potential upside of 14.04% from the company’s current price.

A number of other brokerages also recently commented on EQIX. Cfra reaffirmed a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Evercore ISI upgraded Equinix to a “strong-buy” rating in a research note on Wednesday. Mizuho boosted their price target on shares of Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Truist Financial raised their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Equinix presently has a consensus rating of “Moderate Buy” and an average target price of $903.80.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $876.88 on Friday. Equinix has a 1-year low of $677.80 and a 1-year high of $914.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.26. The stock has a market cap of $83.22 billion, a PE ratio of 87.95, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71. The stock’s fifty day simple moving average is $838.25 and its two-hundred day simple moving average is $792.81.

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

Insider Activity

In other news, CAO Simon Miller sold 569 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Simon Miller sold 569 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total transaction of $467,097.79. Following the completion of the transaction, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jonathan Lin sold 93 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares in the company, valued at $5,862,689.59. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,043 shares of company stock worth $8,282,119. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

Large investors have recently modified their holdings of the business. CNB Bank raised its stake in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Equinix in the 2nd quarter worth approximately $30,000. LRI Investments LLC bought a new position in shares of Equinix in the 1st quarter worth $31,000. Meeder Asset Management Inc. purchased a new stake in shares of Equinix during the 2nd quarter valued at $36,000. Finally, Rise Advisors LLC bought a new stake in shares of Equinix during the 1st quarter worth $39,000. 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.