Equinix (NASDAQ:EQIX) Given New $880.00 Price Target at The Goldman Sachs Group

Equinix (NASDAQ:EQIX - Free Report) had its target price reduced by The Goldman Sachs Group from $1,020.00 to $880.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider's stock.

Other analysts have also issued reports about the company. Bank of America lowered their price target on Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. BNP Paribas raised Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. JMP Securities reissued a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday, June 26th. Wells Fargo & Company lowered their price objective on Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Finally, New Street Research raised Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $960.55.

Equinix Price Performance

Shares of NASDAQ:EQIX traded down $7.65 during trading on Wednesday, reaching $787.50. The stock had a trading volume of 539,869 shares, compared to its average volume of 556,961. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65. The business has a fifty day moving average price of $865.90 and a 200-day moving average price of $875.18. The stock has a market cap of $77.03 billion, a PE ratio of 81.86, a PEG ratio of 1.13 and a beta of 0.93. Equinix has a 1-year low of $701.41 and a 1-year high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly 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 firm had revenue of $2.23 billion for 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% on a year-over-year basis. During the same period in the previous year, the company posted $8.86 earnings per share. On average, equities analysts forecast that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.38%. The ex-dividend date was Wednesday, May 21st. Equinix's payout ratio is 195.01%.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the company'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 sale, the chief executive officer owned 9,615 shares in the company, valued at $8,508,409.65. This represents a 23.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director owned 17,569 shares in the company, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,176 shares of company stock valued at $2,808,008. Corporate insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On Equinix

Several large investors have recently bought and sold shares of EQIX. Brighton Jones LLC increased its holdings in Equinix by 28.9% during the 4th quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after purchasing an additional 73 shares during the period. Bank Pictet & Cie Europe AG purchased a new position in shares of Equinix in the 4th quarter valued at about $2,027,000. Proficio Capital Partners LLC purchased a new position in shares of Equinix in the 4th quarter valued at about $246,000. Fisher Asset Management LLC increased its holdings in shares of Equinix by 11.6% in the 4th quarter. Fisher Asset Management LLC now owns 298 shares of the financial services provider's stock valued at $281,000 after acquiring an additional 31 shares during the last quarter. Finally, Norden Group LLC purchased a new position in shares of Equinix in the 4th quarter valued at about $226,000. Hedge funds and other institutional investors 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.