Equinix, Inc. (NASDAQ:EQIX) Receives $957.27 Average Price Target from Analysts

Key Points

• Equinix, Inc. (NASDAQ:EQIX) has received a consensus rating of "Buy" from 30 research firms, with an average target price of approximately $957.27 over the next year.
• The company reported earnings per share of $9.91 for the last quarter, significantly surpassing the consensus estimate of $3.49, along with a 4.5% increase in year-over-year revenue.
• Equinix recently declared a quarterly dividend of $4.69, with a dividend yield of 2.4%, but its payout ratio stands at a high 183.74%.

Shares of Equinix, Inc. (NASDAQ:EQIX - Get Free Report) have been assigned an average rating of "Buy" from the thirty research firms that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $959.8636.

Several equities research analysts recently commented on EQIX shares. Barclays lowered their price target on Equinix from $837.00 to $798.00 and set an "equal weight" rating for the company in a research note on Friday, July 11th. UBS Group lowered their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a research report on Friday, July 11th. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research note on Tuesday, July 22nd. Scotiabank dropped their price target on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research report on Thursday, June 26th. Finally, Truist Financial increased their price objective on Equinix from $904.00 to $961.00 and gave the stock a "buy" rating in a research report on Thursday.

Equinix Stock Performance

Shares of Equinix stock traded up $6.34 during trading hours on Thursday, hitting $779.34. 324,947 shares of the company were exchanged, compared to its average volume of 561,025. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix has a 1 year low of $701.41 and a 1 year high of $994.03. The stock has a market capitalization of $76.27 billion, a price-to-earnings ratio of 76.33, a P/E/G ratio of 1.25 and a beta of 0.90. The business has a 50-day moving average of $823.23 and a 200-day moving average of $849.99.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm posted $9.22 EPS. The firm's quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts expect that Equinix will post 33.1 EPS for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Equinix's dividend payout ratio is presently 183.74%.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix 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 completion of the sale, the director owned 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer directly owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Equinix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EQIX. Activest Wealth Management increased its stake in shares of Equinix by 121.4% in the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 17 shares in the last quarter. Westside Investment Management Inc. boosted its position in Equinix by 190.9% during the second quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider's stock worth $25,000 after acquiring an additional 21 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new position in shares of Equinix during the 2nd quarter worth approximately $26,000. Bank of Jackson Hole Trust boosted its stake in Equinix by 70.0% during the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider's stock worth $27,000 after buying an additional 14 shares during the last quarter. Finally, Pinney & Scofield Inc. purchased a new stake in shares of Equinix in the fourth quarter valued at about $28,000. 94.94% of the stock is 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.