Equinix (NASDAQ:EQIX) Raised to Moderate Buy at Dbs Bank

Key Points

• Dbs Bank has upgraded Equinix (NASDAQ:EQIX) to a "moderate buy" rating, reflecting optimism about the company's future performance.
• Equinix's stock saw a slight decline of 0.8% and currently sits at $773.00, with analysts predicting an average target price of $957.27.
• The company reported earnings of $9.91 EPS for the last quarter, significantly exceeding analyst expectations of $3.49, indicating strong financial performance.

Equinix (NASDAQ:EQIX - Get Free Report) was upgraded by investment analysts at Dbs Bank to a "moderate buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

EQIX has been the topic of a number of other reports. Barclays lowered their price target on Equinix from $837.00 to $798.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Guggenheim began coverage on shares of Equinix in a research report on Thursday, July 10th. They set a "buy" rating and a $933.00 price objective on the stock. Mizuho reduced their price objective on shares of Equinix from $1,069.00 to $900.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 1st. BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Finally, UBS Group reduced their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Five 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $957.27.

Equinix Stock Down 0.8%

NASDAQ EQIX opened at $773.00 on Wednesday. The stock's 50-day moving average price is $825.39 and its 200-day moving average price is $850.93. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a market capitalization of $75.65 billion, a P/E ratio of 75.71, a price-to-earnings-growth ratio of 1.26 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping the consensus estimate of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the company earned $9.22 earnings per share. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Equinix will post 33.1 earnings per share for the current year.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director directly owned 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the sale, the chief executive officer owned 9,615 shares of the company's stock, 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 currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EQIX. Valeo Financial Advisors LLC raised its position in shares of Equinix by 298,148.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 8,157,100 shares of the financial services provider's stock worth $6,488,728,000 after acquiring an additional 8,154,365 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after acquiring an additional 889,282 shares in the last quarter. Nuveen LLC bought a new position in shares of Equinix in the 1st quarter worth $662,663,000. Northern Trust Corp raised its position 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Equinix by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock worth $1,296,871,000 after acquiring an additional 291,753 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

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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