Cfra Research Downgrades Equinix (NASDAQ:EQIX) to Hold

Key Points

• Cfra Research has downgraded Equinix (NASDAQ:EQIX) from a "moderate buy" to a "hold" rating, indicating a shift in sentiment among analysts.
• Equinix stock is currently trading at $771.75, with a 52-week low of $701.41 and a high of $994.03, reflecting recent volatility in its performance.
• Despite the downgrade, the consensus rating for Equinix is still a "Buy" with a price target of $957.27, supported by 20 buy ratings and 5 strong buy ratings from various analysts.

Equinix (NASDAQ:EQIX - Get Free Report) was downgraded by equities research analysts at Cfra Research from a "moderate buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. boosted their price target on shares of Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a research note on Thursday. TD Securities boosted their price target on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Truist Financial dropped their price target on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research note on Tuesday, July 1st. Finally, BMO Capital Markets downgraded shares of Equinix from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $1,045.00 to $850.00 in a research note on Thursday, June 26th. Five analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Equinix has a consensus rating of "Buy" and a consensus price target of $957.27.

Equinix Stock Down 1.7%

Equinix stock opened at $771.75 on Thursday. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.65 and a current ratio of 1.54. The firm has a 50 day moving average price of $831.20 and a 200 day moving average price of $853.72. The company has a market capitalization of $75.49 billion, a PE ratio of 75.59, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, beating the consensus estimate of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The firm had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the firm earned $9.22 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts expect that Equinix will post 33.1 earnings per share for the current year.

Insiders Place Their Bets

In other Equinix news, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider directly owned 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director owned 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Financial Advisors Inc. grew its position in shares of Equinix by 3.2% in the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock valued at $340,000 after purchasing an additional 11 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Equinix by 40.0% in the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 12 shares during the last quarter. Signaturefd LLC grew its position in shares of Equinix by 0.8% in the first quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider's stock valued at $1,182,000 after purchasing an additional 12 shares during the last quarter. AE Wealth Management LLC lifted its stake in shares of Equinix by 5.1% during the first quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider's stock valued at $202,000 after buying an additional 12 shares during the period. Finally, Gitterman Wealth Management LLC lifted its stake in shares of Equinix by 5.0% during the first quarter. Gitterman Wealth Management LLC now owns 250 shares of the financial services provider's stock valued at $206,000 after buying an additional 12 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

About Equinix

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.

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