Equinix (NASDAQ:EQIX) Price Target Raised to $837.00 at Barclays

Equinix (NASDAQ:EQIX - Get Free Report) had its price target upped by stock analysts at Barclays from $834.00 to $837.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Barclays's price target suggests a potential downside of 5.68% from the stock's current price.

EQIX has been the topic of several other research reports. Truist Financial lowered their price objective on shares of Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. BMO Capital Markets decreased their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Wolfe Research raised Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 target price for the company in a report on Thursday, March 27th. TD Securities upped their price target on Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research report on Thursday, May 1st. Finally, Mizuho dropped their price objective on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research note on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $1,004.80.

Equinix Stock Up 0.8%

Shares of EQIX stock traded up $6.81 on Tuesday, hitting $887.43. The company's stock had a trading volume of 290,625 shares, compared to its average volume of 524,928. The stock has a market capitalization of $86.81 billion, a price-to-earnings ratio of 103.79, a P/E/G ratio of 1.78 and a beta of 0.97. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm's fifty day moving average price is $830.09 and its 200-day moving average price is $890.83. 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 released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the prior year, the company posted $8.86 EPS. The firm's revenue was up 4.1% on a year-over-year basis. Research analysts anticipate that Equinix will post 33.1 EPS for the current year.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Pletcher sold 127 shares of the firm'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 now owns 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Institutional Trading of Equinix

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Equinix during the fourth quarter worth about $1,067,270,000. GAMMA Investing LLC lifted its position in shares of Equinix by 82,340.9% in the first quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock valued at $725,957,000 after buying an additional 889,282 shares during the last quarter. Nuveen LLC bought a new position in shares of Equinix during the 1st quarter worth approximately $662,663,000. Northern Trust Corp increased its holdings in shares of Equinix by 65.3% during 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 raised its stake in 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 valued at $1,701,188,000 after acquiring an additional 401,991 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.