Mizuho Cuts Equinix (NASDAQ:EQIX) Price Target to $900.00

Equinix (NASDAQ:EQIX - Get Free Report) had its price target cut by investment analysts at Mizuho from $1,069.00 to $900.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Mizuho's target price would suggest a potential upside of 13.23% from the stock's current price.

A number of other equities analysts have also weighed in on EQIX. Truist Financial decreased their price objective on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a report on Tuesday. Stifel Nicolaus decreased their price target on Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Cowen reaffirmed a "buy" rating on shares of Equinix in a research report on Thursday, May 1st. Wolfe Research downgraded Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $1,045.00 to $850.00 in a research note on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $965.55.

Equinix Stock Down 0.1%

Shares of Equinix stock traded down $0.65 during midday trading on Tuesday, hitting $794.82. The company had a trading volume of 553,318 shares, compared to its average volume of 552,453. 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 stock has a market capitalization of $77.75 billion, a P/E ratio of 82.68, a P/E/G ratio of 1.12 and a beta of 0.97. The company has a 50 day moving average of $867.71 and a 200 day moving average of $878.70.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results 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. The firm had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $8.86 earnings per share. On average, equities analysts predict that Equinix will post 33.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 9,615 shares in the company, valued at $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the director owned 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. In the last quarter, insiders sold 3,176 shares of company stock worth $2,808,008. Corporate insiders own 0.27% of the company's stock.

Institutional Trading of Equinix

A number of institutional investors and hedge funds have recently bought and sold shares of EQIX. Activest Wealth Management boosted its holdings in shares of Equinix by 121.4% during the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 17 shares during the last quarter. Pinney & Scofield Inc. bought a new position in Equinix during the fourth quarter valued at approximately $28,000. GKV Capital Management Co. Inc. purchased a new position in Equinix during the 1st quarter valued at approximately $30,000. Saudi Central Bank bought a new stake in Equinix in the 1st quarter worth approximately $31,000. Finally, Quarry LP bought a new stake in Equinix in the 1st quarter worth approximately $31,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.