Equinix (NASDAQ:EQIX) Given Market Outperform Rating at JMP Securities

Equinix (NASDAQ:EQIX - Get Free Report)'s stock had its "market outperform" rating reiterated by investment analysts at JMP Securities in a note issued to investors on Tuesday,Benzinga reports. They presently have a $1,200.00 price objective on the financial services provider's stock. JMP Securities' price target would suggest a potential upside of 50.02% from the stock's previous close.

Several other equities analysts also recently commented on EQIX. 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 report on Thursday, June 26th. Barclays reduced their target price on Equinix from $837.00 to $798.00 and set an "equal weight" rating for the company in a research report on Friday, July 11th. The Goldman Sachs Group lowered their price objective on Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Guggenheim assumed coverage on Equinix in a research report on Thursday, July 10th. They set a "buy" rating and a $933.00 target price for the company. Finally, Citigroup lifted their price objective on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $957.05.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $10.33 during trading hours on Tuesday, hitting $799.87. 268,876 shares of the company's stock traded hands, compared to its average volume of 643,660. Equinix has a 52 week low of $701.41 and a 52 week high of $994.03. 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 company's fifty day simple moving average is $840.37 and its two-hundred day simple moving average is $859.10. The company has a market cap of $78.24 billion, a price-to-earnings ratio of 83.16, a price-to-earnings-growth ratio of 1.47 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last posted 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. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm earned $8.86 earnings per share. The firm's revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts anticipate that Equinix will post 33.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business'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 directly owned 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the transaction, the insider directly owned 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock valued at $2,808,008 over the last ninety days. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Equinix

Several institutional investors have recently bought and sold shares of EQIX. Activest Wealth Management increased its stake in Equinix by 121.4% in the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock worth $25,000 after acquiring an additional 17 shares during the last quarter. Pinney & Scofield Inc. bought a new position in Equinix in the 4th quarter worth about $28,000. Atticus Wealth Management LLC bought a new position in Equinix in the 2nd quarter worth about $29,000. GKV Capital Management Co. Inc. bought a new position in Equinix in the 1st quarter worth about $30,000. Finally, Saudi Central Bank bought a new position in Equinix in the 1st quarter worth about $31,000. 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.