Equinix (NASDAQ:EQIX) Receives Market Outperform Rating from JMP Securities

Equinix (NASDAQ:EQIX - Get Free Report)'s stock had its "market outperform" rating reiterated by stock analysts at JMP Securities in a report released on Friday,Benzinga reports. They currently have a $1,200.00 target price on the financial services provider's stock. JMP Securities' price objective points to a potential upside of 39.41% from the company's current price.

Other equities research analysts have also recently issued research reports about the company. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price on the stock in a report on Thursday, March 27th. Barclays lifted their price target on Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a report on Thursday, March 20th. Stifel Nicolaus upped their price objective on shares of Equinix from $1,030.00 to $1,050.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Cfra Research raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Finally, Truist Financial cut their price objective on Equinix from $990.00 to $986.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and six have assigned a strong buy rating to the stock. According to MarketBeat, Equinix currently has an average rating of "Buy" and a consensus price target of $1,004.65.

Equinix Stock Performance

Equinix stock opened at $860.78 on Friday. The company has a market cap of $84.20 billion, a PE ratio of 100.44, a P/E/G ratio of 1.78 and a beta of 0.97. Equinix has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a fifty day moving average price of $827.36 and a two-hundred day moving average price of $892.01. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its 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 analysts' expectations of $2.23 billion. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Equinix's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company posted $8.86 earnings per share. Research analysts expect that Equinix will post 33.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider now directly owns 1,842 shares in the company, valued at $1,616,723.40. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 17,569 shares of the company's stock, 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. Company insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EQIX. JPMorgan Chase & Co. grew its stake in shares of Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after buying an additional 203,656 shares in the last quarter. Simon Quick Advisors LLC raised its stake in Equinix by 20.4% in the 4th quarter. Simon Quick Advisors LLC now owns 378 shares of the financial services provider's stock worth $356,000 after purchasing an additional 64 shares in the last quarter. Mutual Advisors LLC boosted its holdings in Equinix by 14.5% in the 4th quarter. Mutual Advisors LLC now owns 788 shares of the financial services provider's stock valued at $725,000 after purchasing an additional 100 shares during the period. Verde Capital Management increased its stake in Equinix by 11.1% during the 4th quarter. Verde Capital Management now owns 2,191 shares of the financial services provider's stock worth $2,065,000 after acquiring an additional 219 shares during the period. Finally, Montecito Bank & Trust lifted its position in Equinix by 3.1% during the fourth quarter. Montecito Bank & Trust now owns 436 shares of the financial services provider's stock worth $411,000 after purchasing an additional 13 shares during the period. Institutional investors and hedge funds 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.

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