Equinix (NASDAQ:EQIX) Rating Lowered to Peer Perform at Wolfe Research

Equinix (NASDAQ:EQIX - Get Free Report) was downgraded by equities research analysts at Wolfe Research from an "outperform" rating to a "peer perform" rating in a note issued to investors on Monday, MarketBeat Ratings reports.

Several other analysts also recently weighed in on the company. Cowen restated a "buy" rating on shares of Equinix in a research note on Thursday, May 1st. Bank of America started coverage on Equinix in a research note on Monday, May 19th. They issued a "buy" rating and a $1,000.00 target price on the stock. Oppenheimer lifted their price objective on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Scotiabank decreased their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 22nd. Finally, TD Securities increased their target price on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and six have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $1,004.80.

Equinix Stock Performance

Shares of EQIX stock opened at $914.43 on Monday. The firm has a market capitalization of $89.45 billion, a price-to-earnings ratio of 106.95, a PEG ratio of 1.78 and a beta of 0.97. The stock has a fifty day moving average of $839.65 and a 200 day moving average of $890.24. Equinix has a 52 week low of $701.41 and a 52 week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

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 for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the firm posted $8.86 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, research analysts expect that Equinix will post 33.1 earnings per share for the current year.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the firm'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 now directly owns 9,615 shares in the company, valued at $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now directly owns 17,569 shares of the company's stock, 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 have sold 3,176 shares of company stock valued at $2,808,008 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Equinix

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock valued at $10,523,576,000 after buying an additional 242,121 shares during the period. Geode Capital Management LLC boosted its holdings in Equinix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after acquiring an additional 62,005 shares during the period. FMR LLC boosted its holdings in Equinix by 3.7% during the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after acquiring an additional 81,144 shares during the period. Principal Financial Group Inc. grew its position in Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after acquiring an additional 44,471 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after purchasing an additional 14,294 shares during the last quarter. 94.94% of the stock is currently 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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