Brokerages Set Equinix, Inc. (NASDAQ:EQIX) PT at $959.64

Equinix, Inc. (NASDAQ:EQIX) has been given an average recommendation of “Moderate Buy” by the twenty-eight analysts that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $959.6364.

A number of research firms have commented on EQIX. Citigroup restated a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. HSBC set a $1,050.00 target price on Equinix and gave the stock a “buy” rating in a research note on Thursday, January 15th. TD Cowen reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research note on Tuesday, January 6th. Finally, Zacks Research lowered shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th.

Equinix Trading Down 0.6%

Shares of EQIX stock opened at $820.93 on Thursday. Equinix has a 1-year low of $701.41 and a 1-year high of $953.41. The firm has a market cap of $80.61 billion, a PE ratio of 75.18, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05. The company has a 50-day moving average of $769.84 and a two-hundred day moving average of $784.86. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping the consensus estimate of $9.27 by $0.56. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $9.05 EPS. On average, analysts predict that Equinix will post 33.1 EPS for the current year.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 927 shares of Equinix stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $743,250.06. Following the completion of the transaction, the executive vice president directly owned 7,337 shares in the company, valued at approximately $5,882,659.86. This trade represents a 11.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total value of $2,115,774.46. Following the sale, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. This trade represents a 18.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,590 shares of company stock worth $15,366,046 over the last three months. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Equinix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC increased its position in Equinix by 21.1% during the second quarter. Campbell & CO Investment Adviser LLC now owns 384 shares of the financial services provider’s stock worth $305,000 after buying an additional 67 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Equinix by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 544,462 shares of the financial services provider’s stock valued at $426,444,000 after acquiring an additional 7,409 shares during the period. Chilton Capital Management LLC grew its position in shares of Equinix by 5.1% during the third quarter. Chilton Capital Management LLC now owns 36,908 shares of the financial services provider’s stock worth $28,908,000 after acquiring an additional 1,805 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its holdings in shares of Equinix by 13.5% in the 2nd quarter. Cbre Investment Management Listed Real Assets LLC now owns 485,538 shares of the financial services provider’s stock valued at $386,231,000 after acquiring an additional 57,630 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Equinix by 7.3% in the 3rd quarter. Nordea Investment Management AB now owns 483,483 shares of the financial services provider’s stock valued at $376,193,000 after acquiring an additional 32,790 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.