Equinix (NASDAQ:EQIX) Upgraded by BidaskClub to “Strong-Buy”
Several other equities analysts also recently weighed in on EQIX. Citigroup lifted their target price on Equinix from $508.00 to $527.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Zacks Investment Research upgraded Equinix from a sell rating to a hold rating in a research report on Wednesday, May 8th. Raymond James lifted their target price on Equinix from $520.00 to $560.00 and gave the company a strong-buy rating in a research report on Thursday, August 1st. UBS Group lifted their target price on Equinix from $510.00 to $560.00 and gave the company a buy rating in a research report on Thursday, August 1st. Finally, Credit Suisse Group set a $556.00 target price on Equinix and gave the company a buy rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Equinix currently has an average rating of Buy and a consensus target price of $527.21.
EQIX stock opened at $555.73 on Friday. The company has a market cap of $44.94 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 1.81 and a beta of 0.73. Equinix has a 1 year low of $335.29 and a 1 year high of $557.96. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.59 and a quick ratio of 1.59. The stock’s fifty day moving average price is $521.27 and its 200-day moving average price is $474.47.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a $2.46 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $9.84 annualized dividend and a dividend yield of 1.77%. Equinix’s payout ratio is 47.56%.
In other news, CAO Simon Miller sold 385 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $516.27, for a total value of $198,763.95. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $355,710.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,960 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $516.44, for a total value of $1,528,662.40. Following the completion of the transaction, the insider now owns 19,253 shares in the company, valued at $9,943,019.32. The disclosure for this sale can be found here. Insiders sold 7,786 shares of company stock worth $4,156,774 over the last 90 days. Company insiders own 0.49% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Equinix in the second quarter valued at about $26,000. Meeder Asset Management Inc. purchased a new position in shares of Equinix in the second quarter valued at about $26,000. Carroll Financial Associates Inc. increased its holdings in shares of Equinix by 63.6% in the second quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 21 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Equinix in the second quarter worth about $29,000. Finally, Meridian Wealth Management LLC bought a new stake in shares of Equinix in the first quarter worth about $28,000. Institutional investors and hedge funds own 95.48% of the company’s stock.
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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