TD Cowen Trims Equinix (NASDAQ:EQIX) Target Price to $859.00

Equinix (NASDAQ:EQIX - Get Free Report) had its price target lowered by investment analysts at TD Cowen from $862.00 to $859.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. TD Cowen's price target suggests a potential upside of 13.37% from the stock's current price.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada upped their target price on shares of Equinix from $855.00 to $950.00 and gave the company an "outperform" rating in a research report on Thursday, February 29th. Barclays lowered their target price on shares of Equinix from $818.00 to $669.00 and set an "equal weight" rating for the company in a report on Wednesday, April 17th. BMO Capital Markets upped their target price on shares of Equinix from $910.00 to $925.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Finally, Wells Fargo & Company upped their price objective on shares of Equinix from $800.00 to $825.00 and gave the company an "equal weight" rating in a research report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $869.76.

Equinix Trading Down 1.9 %

EQIX stock traded down $14.75 during trading on Friday, hitting $757.68. The company had a trading volume of 975,437 shares, compared to its average volume of 623,443. The firm has a 50-day moving average price of $794.15 and a 200-day moving average price of $801.13. Equinix has a 12 month low of $672.88 and a 12 month high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19. The stock has a market cap of $71.69 billion, a price-to-earnings ratio of 73.45, a PEG ratio of 1.81 and a beta of 0.62.

Insider Buying and Selling at Equinix

In related news, CFO Keith D. Taylor sold 1,164 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the sale, the chief financial officer now owns 23,187 shares of the company's stock, valued at $19,314,307.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Charles J. Meyers sold 2,110 shares of the business's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the transaction, the chief executive officer now owns 10,115 shares in the company, valued at $8,422,659.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Keith D. Taylor sold 1,164 shares of Equinix stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.98, for a total value of $969,588.72. Following the completion of the transaction, the chief financial officer now directly owns 23,187 shares of the company's stock, valued at $19,314,307.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,585 shares of company stock worth $3,818,268. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EQIX. Aew Capital Management L P grew its stake in Equinix by 0.8% in the fourth quarter. Aew Capital Management L P now owns 310,764 shares of the financial services provider's stock valued at $250,286,000 after acquiring an additional 2,503 shares during the period. Braun Stacey Associates Inc. raised its holdings in shares of Equinix by 12.5% in the 4th quarter. Braun Stacey Associates Inc. now owns 32,205 shares of the financial services provider's stock worth $25,938,000 after acquiring an additional 3,591 shares during the last quarter. Nordea Investment Management AB lifted its position in Equinix by 9.8% in the 4th quarter. Nordea Investment Management AB now owns 135,495 shares of the financial services provider's stock valued at $109,459,000 after acquiring an additional 12,129 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Equinix by 127.8% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 1,403 shares of the financial services provider's stock valued at $1,130,000 after purchasing an additional 787 shares during the last quarter. Finally, TIAA Trust National Association raised its stake in shares of Equinix by 126.8% in the fourth quarter. TIAA Trust National Association now owns 4,243 shares of the financial services provider's stock worth $3,417,000 after purchasing an additional 2,372 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

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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