JPMorgan Chase & Co. Has Lowered Expectations for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX - Get Free Report) had its price target reduced by analysts at JPMorgan Chase & Co. from $975.00 to $935.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 19.09% from the stock's current price.

EQIX has been the topic of several other research reports. Barclays raised their target price on shares of Equinix from $834.00 to $837.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. TD Securities raised their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Cowen reaffirmed a "buy" rating on shares of Equinix in a report on Thursday, May 1st. Mizuho decreased their target price on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a research report on Friday, March 28th. Finally, Wolfe Research cut Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and six have given a strong buy rating to the company's stock. According to MarketBeat.com, Equinix presently has a consensus rating of "Buy" and a consensus price target of $977.30.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $39.58 during midday trading on Thursday, reaching $785.11. The company's stock had a trading volume of 2,193,059 shares, compared to its average volume of 552,695. The business's fifty day simple moving average is $867.26 and its 200-day simple moving average is $881.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a market capitalization of $76.80 billion, a P/E ratio of 81.61, a P/E/G ratio of 0.97 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 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 firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the prior year, the firm earned $8.86 EPS. The company's revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts expect that Equinix will post 33.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the transaction, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director now directly owns 17,569 shares in the company, valued at approximately $15,274,664.29. This represents a 0.57% 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 90 days. 0.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock worth $307,000 after acquiring an additional 73 shares during the period. Bank Pictet & Cie Europe AG acquired a new position in shares of Equinix during the 4th quarter worth approximately $2,027,000. IFP Advisors Inc increased its holdings in shares of Equinix by 434.1% during the fourth quarter. IFP Advisors Inc now owns 486 shares of the financial services provider's stock worth $459,000 after purchasing an additional 395 shares during the period. Lake Street Advisors Group LLC increased its holdings in shares of Equinix by 1.6% during the fourth quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock worth $713,000 after purchasing an additional 12 shares during the period. Finally, Checchi Capital Advisers LLC raised its position in shares of Equinix by 1.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,224 shares of the financial services provider's stock valued at $1,154,000 after buying an additional 20 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

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.