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

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) has received an average rating of "Buy" from the twenty-eight ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and six have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $1,004.80.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Equinix from $1,030.00 to $1,050.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and issued a $1,200.00 price objective on shares of Equinix in a research report on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Equinix in a research report on Thursday, May 1st. BNP Paribas raised shares of Equinix to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, Bank of America started coverage on shares of Equinix in a research report on Monday, May 19th. They issued a "buy" rating and a $1,000.00 price objective on the stock.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, the chief executive officer now owns 9,615 shares of the company's stock, valued at $8,508,409.65. This trade represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 in the last 90 days. Company insiders own 0.27% of the company's stock.

Institutional Trading of Equinix

Several hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC lifted its stake in shares of Equinix by 1.9% in the 4th quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock worth $543,000 after acquiring an additional 11 shares during the period. Legacy Financial Advisors Inc. lifted its stake in shares of Equinix by 3.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider's stock worth $340,000 after acquiring an additional 11 shares during the period. Lake Street Advisors Group LLC lifted its stake in shares of Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock worth $713,000 after acquiring an additional 12 shares during the period. Cornerstone Planning Group LLC lifted its stake 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 period. Finally, Signaturefd LLC lifted its stake 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 period. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Performance

Shares of EQIX stock opened at $886.76 on Wednesday. The firm's 50 day moving average price is $856.61 and its 200-day moving average price is $887.14. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. Equinix has a one year low of $701.41 and a one year high of $994.03. The firm has a market cap of $86.74 billion, a P/E ratio of 92.18, a P/E/G ratio of 1.16 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The firm's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $8.86 EPS. As a group, equities research analysts predict that Equinix will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio is currently 195.01%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.