Equinix (NASDAQ:EQIX) Price Target Lowered to $798.00 at Barclays

Equinix (NASDAQ:EQIX - Get Free Report) had its price target decreased by research analysts at Barclays from $837.00 to $798.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Barclays's target price indicates a potential upside of 4.97% from the company's current price.

A number of other equities analysts also recently commented on the stock. Truist Financial reduced their target price on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a report on Tuesday, July 1st. Mizuho decreased their target price on shares of Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a research report on Tuesday, July 1st. Guggenheim began coverage on shares of Equinix in a research note on Thursday. They issued a "buy" rating and a $933.00 target price for the company. Bank of America reduced their price target on Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Finally, New Street Research raised Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, Equinix currently has an average rating of "Buy" and a consensus target price of $957.05.

Equinix Stock Up 0.5%

NASDAQ EQIX traded up $3.50 during trading on Friday, reaching $760.20. 427,980 shares of the company's stock traded hands, compared to its average volume of 562,628. 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 1.20, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market cap of $74.36 billion, a price-to-earnings ratio of 79.02, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93. The company's 50 day simple moving average is $856.50 and its two-hundred day simple moving average is $868.27.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equinix's revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $8.86 earnings per share. As a group, sell-side analysts forecast that Equinix will post 33.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer directly owned 9,615 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the transaction, the director directly owned 17,569 shares in the company, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 over the last ninety days. Company insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Equinix in the fourth quarter worth $1,067,270,000. GAMMA Investing LLC increased its holdings in Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after buying an additional 889,282 shares during the last quarter. Nuveen LLC bought a new position in Equinix during the first quarter valued at approximately $662,663,000. Northern Trust Corp lifted its stake in Equinix by 65.3% in the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock valued at $1,399,042,000 after acquiring an additional 586,034 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after acquiring an additional 401,991 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other 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.