Equinix (NASDAQ:EQIX) had its price objective lifted by Wells Fargo & Co from $745.00 to $790.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on EQIX. Nomura Securities lifted their target price on Equinix from $625.00 to $700.00 and gave the company a buy rating in a research report on Friday, April 17th. Morgan Stanley lifted their target price on Equinix from $584.00 to $670.00 and gave the company an equal weight rating in a research report on Wednesday, June 3rd. Argus lifted their price target on Equinix from $600.00 to $740.00 and gave the company a buy rating in a report on Wednesday, May 13th. BMO Capital Markets lifted their price target on Equinix from $707.00 to $745.00 and gave the company an outperform rating in a report on Thursday, May 7th. Finally, Credit Suisse Group reiterated a buy rating on shares of Equinix in a report on Monday, June 8th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $708.28.

Shares of NASDAQ EQIX opened at $701.12 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.44. The business has a fifty day simple moving average of $695.71 and a two-hundred day simple moving average of $640.21. The firm has a market cap of $61.79 billion, a PE ratio of 118.03, a price-to-earnings-growth ratio of 1.58 and a beta of 0.41. Equinix has a twelve month low of $477.87 and a twelve month high of $735.99.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.40 by ($4.02). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. Equinix had a net margin of 9.00% and a return on equity of 5.80%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $5.95 earnings per share. On average, research analysts expect that Equinix will post 21.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th were paid a dividend of $2.66 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $10.64 annualized dividend and a yield of 1.52%. Equinix’s dividend payout ratio (DPR) is 46.65%.

In other Equinix news, insider Sara Baack sold 250 shares of Equinix stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $670.34, for a total transaction of $167,585.00. Following the completion of the sale, the insider now owns 10,929 shares of the company’s stock, valued at approximately $7,326,145.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Simon Miller sold 950 shares of Equinix stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $697.18, for a total value of $662,321.00. Following the sale, the chief accounting officer now directly owns 1,034 shares of the company’s stock, valued at approximately $720,884.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,291 shares of company stock worth $3,605,292. 0.49% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of EQIX. Norges Bank acquired a new stake in Equinix during the 4th quarter worth about $474,940,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Equinix by 85.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 858,230 shares of the financial services provider’s stock worth $536,025,000 after acquiring an additional 396,675 shares during the period. Capital Research Global Investors lifted its position in Equinix by 95.0% during the 4th quarter. Capital Research Global Investors now owns 761,195 shares of the financial services provider’s stock worth $444,310,000 after acquiring an additional 370,877 shares during the period. Girard Partners LTD. lifted its position in Equinix by 9,842.2% during the 1st quarter. Girard Partners LTD. now owns 343,304 shares of the financial services provider’s stock worth $2,459,000 after acquiring an additional 339,851 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in Equinix by 20.5% during the 1st quarter. Nuveen Asset Management LLC now owns 1,211,869 shares of the financial services provider’s stock worth $756,896,000 after acquiring an additional 206,455 shares during the period. 93.48% of the stock is owned by institutional investors.

Equinix Company Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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