Equinix (NASDAQ:EQIX) Downgraded by Cfra Research to Moderate Buy

Equinix (NASDAQ:EQIX - Get Free Report) was downgraded by Cfra Research from a "strong-buy" rating to a "moderate buy" rating in a report issued on Thursday,Zacks.com reports.

Several other equities analysts have also commented on EQIX. TD Securities raised their price objective on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Wolfe Research lowered shares of Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. JPMorgan Chase & Co. lowered their price target on shares of Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, New Street Research raised shares of Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $977.30.

Equinix Price Performance

EQIX stock opened at $785.11 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. Equinix has a 1 year low of $701.41 and a 1 year high of $994.03. The firm has a 50-day moving average of $867.26 and a 200 day moving average of $881.19. The company has a market cap of $76.80 billion, a P/E ratio of 81.61, a PEG ratio of 0.97 and a beta of 0.97.

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

Insider Transactions at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction dated 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 directly owns 9,615 shares in the company, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now directly owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock worth $2,808,008 in the last ninety days. Insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pinney & Scofield Inc. bought a new position in shares of Equinix in the fourth quarter worth approximately $28,000. Activest Wealth Management lifted its stake in shares of Equinix by 121.4% during the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock valued at $25,000 after buying an additional 17 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Equinix in the 1st quarter worth $30,000. Pacific Center for Financial Services increased its stake in Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock worth $36,000 after buying an additional 15 shares in the last quarter. Finally, Saudi Central Bank bought a new stake in Equinix during the first quarter valued at about $31,000. 94.94% of the stock is currently owned by institutional investors.

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.

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