Equinix (NASDAQ:EQIX) Price Target Lowered to $950.00 at UBS Group

Equinix (NASDAQ:EQIX - Get Free Report) had its target price dropped by research analysts at UBS Group from $1,035.00 to $950.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. UBS Group's target price indicates a potential upside of 25.22% from the stock's previous close.

Several other research analysts have also issued reports on the stock. Bank of America dropped their price target on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Mizuho dropped their price objective on shares of Equinix from $1,069.00 to $900.00 and set an "outperform" rating for the company in a report on Tuesday, July 1st. Citigroup raised their price target on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. Cowen reissued a "buy" rating on shares of Equinix in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research note on Thursday, June 26th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $957.05.

Equinix Stock Performance

Shares of EQIX traded down $0.24 during mid-day trading on Friday, reaching $758.66. 376,777 shares of the company's stock traded hands, compared to its average volume of 561,610. Equinix has a 12 month low of $701.41 and a 12 month high of $994.03. The stock has a market capitalization of $74.21 billion, a P/E ratio of 78.87, a price-to-earnings-growth ratio of 1.10 and a beta of 0.93. The business's 50-day moving average price is $858.89 and its 200-day moving average price is $870.72. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.65 and a current ratio of 1.65.

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, beating the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the previous year, the business earned $8.86 EPS. The company's revenue was up 4.1% on a year-over-year basis. Equities analysts predict that Equinix will post 33.1 earnings per share for the current year.

Insider Buying and Selling

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction that occurred on 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 approximately $8,508,409.65. This represents a 23.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock worth $2,808,008 in the last three months. 0.27% of the stock is owned by corporate insiders.

Institutional Trading of Equinix

A number of large investors have recently bought and sold shares of EQIX. Norges Bank bought a new position in shares of Equinix in the fourth quarter valued at $1,067,270,000. GAMMA Investing LLC lifted its position in Equinix by 82,340.9% during the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after purchasing an additional 889,282 shares during the last quarter. Nuveen LLC bought a new stake in Equinix during the first quarter valued at approximately $662,663,000. Northern Trust Corp lifted its holdings in shares of Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Equinix by 28.7% in the 4th 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 during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Company Profile

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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