Equinix, Inc. (NASDAQ:EQIX) Receives Average Rating of "Buy" from Analysts

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) has been given an average recommendation of "Buy" by the twenty-eight brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and six have given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $1,004.80.

A number of brokerages have weighed in on EQIX. Oppenheimer increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. TD Securities lifted their price objective on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 target price on shares of Equinix in a research report on Friday. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Finally, New Street Research upgraded Equinix to a "strong-buy" rating in a research report on Monday, April 28th.

Equinix Stock Up 1.5%

Shares of Equinix stock traded up $13.35 on Friday, hitting $876.81. The company had a trading volume of 501,962 shares, compared to its average volume of 525,767. The stock has a 50-day moving average of $827.97 and a 200-day moving average of $891.18. Equinix has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $85.77 billion, a P/E ratio of 102.55, a P/E/G ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $8.86 earnings per share. Research analysts predict that Equinix will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st will be given a $4.69 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.14%. Equinix's dividend payout ratio (DPR) is 195.01%.

Insider Transactions at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director now owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider now owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Equinix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinney & Scofield Inc. bought a new position in shares of Equinix in the fourth quarter worth about $28,000. Activest Wealth Management raised its holdings in Equinix by 121.4% in the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock worth $25,000 after purchasing an additional 17 shares during the period. Kestra Investment Management LLC bought a new position in Equinix during the fourth quarter worth about $31,000. GKV Capital Management Co. Inc. bought a new position in shares of Equinix during the 1st quarter valued at about $30,000. Finally, Pacific Center for Financial Services lifted its stake in Equinix by 65.2% in the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after buying an additional 15 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Company Profile

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.