Equinix (NASDAQ:EQIX) Given "Buy" Rating at Guggenheim

Key Points

• Guggenheim reaffirmed its “Buy” rating on Equinix and set a $1,235 price target, implying 24.78% upside from the reported trading price. Analysts overall rate the stock “Moderate Buy,” with an average target of $1,206.55.
• Equinix shares rose 1.4% to $989.71, while the company’s latest quarterly results exceeded expectations: EPS came in at $11.78 versus a $4.73 consensus estimate, and revenue increased 16.4% year over year to $2.63 billion.
• Institutional investors own 94.94% of Equinix, with several funds adding or initiating positions during the second quarter. Company insiders, however, sold 4,770 shares worth approximately $4.88 million in the last quarter.

Equinix (NASDAQ:EQIX - Get Free Report)'s stock had its "buy" rating restated by Guggenheim in a note issued to investors on Tuesday, Benzinga reports. They presently have a $1,235.00 target price on the financial services provider's stock. Guggenheim's price objective would indicate a potential upside of 24.78% from the company's current price.

EQIX has been the subject of a number of other research reports. Mizuho raised their price objective on Equinix from $1,200.00 to $1,275.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. The Goldman Sachs Group raised their price objective on Equinix from $1,015.00 to $1,060.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. raised their price objective on Equinix from $1,200.00 to $1,300.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. Truist Financial raised their price objective on Equinix from $1,215.00 to $1,220.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Cantor Fitzgerald raised their price objective on Equinix from $1,186.00 to $1,211.00 and gave the company an "overweight" rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,206.55.

Equinix Stock Up 1.4%

Shares of NASDAQ:EQIX traded up $14.00 during mid-day trading on Tuesday, hitting $989.71. 55,639 shares of the company traded hands, compared to its average volume of 583,594. The firm has a market cap of $97.65 billion, a P/E ratio of 63.52, a PEG ratio of 1.41 and a beta of 0.98. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.13 and a current ratio of 1.13. Equinix has a 52-week low of $720.62 and a 52-week high of $1,128.68. The firm's 50 day simple moving average is $1,037.09 and its 200 day simple moving average is $1,050.07.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $11.78 EPS for the quarter, beating the consensus estimate of $4.73 by $7.05. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.59 billion. Equinix had a return on equity of 10.76% and a net margin of 15.64%. The company's revenue was up 16.4% on a year-over-year basis. During the same period last year, the business posted $9.91 EPS. Equinix has set its FY 2026 guidance at 42.690-43.290 EPS. On average, equities analysts anticipate that Equinix will post 38.23 EPS for the current year.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 135 shares of Equinix stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $1,075.50, for a total value of $145,192.50. Following the completion of the transaction, the insider owned 4,077 shares in the company, valued at approximately $4,384,813.50. This trade represents a 3.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Paladin sold 307 shares of Equinix stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $1,035.01, for a total value of $317,748.07. Following the completion of the transaction, the insider owned 2,450 shares of the company's stock, valued at approximately $2,535,774.50. The trade was a 11.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,770 shares of company stock worth $4,884,197. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Several hedge funds have recently made changes to their positions in EQIX. Moore Capital Management LP raised its stake in shares of Equinix by 235.7% in the 2nd quarter. Moore Capital Management LP now owns 7,675 shares of the financial services provider's stock worth $8,000,000 after buying an additional 5,389 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Equinix in the second quarter valued at $1,181,260,000. Bamco Inc. NY bought a new position in Equinix during the second quarter valued at about $203,930,000. Empowered Funds LLC bought a new position in Equinix during the second quarter valued at about $5,778,000. Finally, Corient Private Wealth LP grew its holdings in Equinix by 20.9% during the second quarter. Corient Private Wealth LP now owns 12,597 shares of the financial services provider's stock worth $13,132,000 after acquiring an additional 2,181 shares during the period. Institutional investors own 94.94% of the company's stock.

Equinix Company Profile

Equinix, Inc is a global digital infrastructure company that operates data centers where businesses, cloud providers, telecommunications carriers and other organizations can securely house and connect their information technology systems. Its International Business Exchange (IBX) data centers provide colocation services, allowing customers to place equipment in highly connected facilities without building and operating their own sites.

The company also provides interconnection and networking services, including Equinix Fabric, which enables customers to establish virtual connections among data centers, cloud platforms, networks and business partners.