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

Shares of Equinix, Inc. (NASDAQ:EQIX - Get Free Report) have received a consensus recommendation of "Buy" from the twenty-eight research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, twenty have issued a buy recommendation and six have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $1,004.80.

Several research analysts recently commented on the company. Citigroup increased their price objective on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Wolfe Research raised shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price target on the stock in a research report on Thursday, March 27th. Cowen restated a "buy" rating on shares of Equinix in a research report on Thursday, May 1st. TD Securities raised their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Finally, 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 note on Thursday, February 13th.

Equinix Stock Up 0.8%

EQIX traded up $6.81 on Friday, hitting $887.43. The company had a trading volume of 290,625 shares, compared to its average volume of 524,928. The stock has a fifty day moving average price of $830.09 and a 200-day moving average price of $890.83. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $86.81 billion, a price-to-earnings ratio of 103.79, a P/E/G ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter last year, the company earned $8.86 earnings per share. The company's quarterly revenue was up 4.1% on a year-over-year basis. Analysts predict that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared 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. This represents a $18.76 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, May 21st. Equinix's dividend payout ratio is currently 195.01%.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider now directly owns 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On Equinix

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its holdings in Equinix by 61.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock valued at $7,946,000 after purchasing an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock valued at $592,191,000 after purchasing an additional 2,560 shares during the last quarter. National Pension Service increased its holdings in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock valued at $229,263,000 after purchasing an additional 3,164 shares during the last quarter. Empowered Funds LLC increased its holdings in Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after purchasing an additional 404 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Equinix by 20.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock valued at $93,807,000 after purchasing an additional 17,084 shares during 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.