Equinix, Inc. (NASDAQ:EQIX) Receives $1,004.94 Consensus Price Target from Brokerages

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) has been given an average rating of "Buy" by the twenty-five analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and five have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $1,004.05.

EQIX has been the topic of several research analyst reports. Oppenheimer raised their price objective on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. BMO Capital Markets reduced their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Stifel Nicolaus boosted their price objective on shares of Equinix from $1,030.00 to $1,050.00 and gave the company a "buy" rating in a research report on Thursday. Wells Fargo & Company dropped their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Wolfe Research upgraded Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a research note on Thursday, March 27th.

Equinix Stock Up 0.1 %

EQIX stock traded up $1.22 during mid-day trading on Tuesday, hitting $861.97. 677,252 shares of the company were exchanged, compared to its average volume of 547,468. The firm has a fifty day simple moving average of $830.37 and a 200 day simple moving average of $894.59. The company has a market capitalization of $84.32 billion, a PE ratio of 100.82, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. Equinix has a twelve month low of $684.14 and a twelve month high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping analysts' consensus estimates 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 period last year, the firm earned $8.86 earnings per share. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts forecast that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Wednesday, May 21st. Equinix's dividend payout ratio is presently 219.42%.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now directly owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock valued at $6,547,068 over the last ninety days. Insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Weatherly Asset Management L. P. lifted its holdings in shares of Equinix by 0.3% in the first quarter. Weatherly Asset Management L. P. now owns 5,045 shares of the financial services provider's stock valued at $4,113,000 after purchasing an additional 15 shares in the last quarter. Prudent Man Advisors LLC lifted its stake in Equinix by 2.5% in the 1st quarter. Prudent Man Advisors LLC now owns 2,244 shares of the financial services provider's stock worth $1,830,000 after acquiring an additional 55 shares in the last quarter. CWM LLC lifted its stake in Equinix by 2.1% in the 1st quarter. CWM LLC now owns 1,784 shares of the financial services provider's stock worth $1,455,000 after acquiring an additional 36 shares in the last quarter. Arizona State Retirement System boosted its position in Equinix by 3.3% during the 1st quarter. Arizona State Retirement System now owns 28,297 shares of the financial services provider's stock worth $23,072,000 after acquiring an additional 914 shares during the period. Finally, Ballentine Partners LLC grew its stake in Equinix by 16.5% during the 1st quarter. Ballentine Partners LLC now owns 1,368 shares of the financial services provider's stock valued at $1,115,000 after acquiring an additional 194 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

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.