Equinix (NASDAQ:EQIX) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Equinix (NASDAQ:EQIX) from a hold rating to a sell rating in a report published on Saturday morning.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft set a $915.00 price target on shares of Equinix in a research note on Tuesday. Zacks Research lowered shares of Equinix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Citigroup reiterated a “buy” rating on shares of Equinix in a research note on Thursday, December 11th. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 price objective for the company in a research note on Wednesday, December 3rd. Finally, Truist Financial raised their target price on Equinix from $961.00 to $973.00 and gave the company a “buy” rating in a report on Tuesday, November 18th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $952.05.

Equinix Price Performance

EQIX stock opened at $800.35 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The company’s 50-day moving average is $769.03 and its 200-day moving average is $782.26. The stock has a market capitalization of $78.58 billion, a PE ratio of 73.29, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. Equinix has a 1 year low of $701.41 and a 1 year high of $953.41.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share for the quarter, topping analysts’ consensus estimates of $9.27 by $0.56. Equinix had a return on equity of 7.70% and a net margin of 11.82%.The business had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the business earned $9.05 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Equities research analysts expect that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, November 19th were issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is 171.79%.

Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 290 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $731.19, for a total value of $212,045.10. Following the transaction, the insider directly owned 2,433 shares of the company’s stock, valued at approximately $1,778,985.27. The trade was a 10.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Raouf Abdel sold 159 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $731.19, for a total transaction of $116,259.21. Following the sale, the executive vice president owned 6,584 shares of the company’s stock, valued at $4,814,154.96. This trade represents a 2.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 8,704 shares of company stock valued at $6,617,748. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EQIX. Westside Investment Management Inc. grew its holdings in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 21 shares during the period. Ameriflex Group Inc. lifted its position in shares of Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after buying an additional 26 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Equinix during the 2nd quarter worth $26,000. Bank of Jackson Hole Trust increased its holdings in Equinix by 70.0% in the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 14 shares during the last quarter. Finally, Abound Wealth Management raised its stake in Equinix by 209.1% in the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 23 shares during the period. 94.94% of the stock is owned by institutional investors.

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.