Stifel Nicolaus Issues Pessimistic Forecast for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX - Get Free Report) had its price objective cut by equities researchers at Stifel Nicolaus from $1,050.00 to $1,010.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the financial services provider's stock. Stifel Nicolaus' price target points to a potential upside of 28.38% from the stock's previous close.

A number of other equities analysts have also recently weighed in on EQIX. Wells Fargo & Company reduced their price objective on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research report on Thursday. Truist Financial lowered their price target on Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Barclays lifted their target price on shares of Equinix from $834.00 to $837.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 27th. BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $1,045.00 to $850.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. reduced their price objective on Equinix from $975.00 to $935.00 and set an "overweight" rating on the stock in a research report on Thursday. Four research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $977.30.

Equinix Stock Performance

Shares of NASDAQ:EQIX traded up $41.20 during trading on Thursday, hitting $786.73. The stock had a trading volume of 1,740,976 shares, compared to its average volume of 551,858. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03. The stock has a market capitalization of $76.96 billion, a price-to-earnings ratio of 81.78, a price-to-earnings-growth ratio of 1.07 and a beta of 0.97. The stock has a 50-day simple moving average of $867.36 and a two-hundred day simple moving average of $882.41.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period last year, the firm earned $8.86 EPS. The firm's revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts expect 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 company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer now directly owns 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the director now directly owns 17,569 shares in the company, valued at $15,274,664.29. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Equinix

Several large investors have recently bought and sold shares of EQIX. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Equinix in the 1st quarter valued at about $3,296,000. Voya Investment Management LLC lifted its stake in Equinix by 27.0% in the first quarter. Voya Investment Management LLC now owns 222,442 shares of the financial services provider's stock valued at $181,368,000 after buying an additional 47,262 shares during the last quarter. BROOKFIELD Corp ON boosted its holdings in shares of Equinix by 2.7% in the first quarter. BROOKFIELD Corp ON now owns 73,197 shares of the financial services provider's stock valued at $59,681,000 after acquiring an additional 1,942 shares during the period. Nicola Wealth Management LTD. grew its position in shares of Equinix by 10.4% during the first quarter. Nicola Wealth Management LTD. now owns 3,931 shares of the financial services provider's stock worth $3,205,000 after acquiring an additional 370 shares during the last quarter. Finally, First Hawaiian Bank increased its holdings in shares of Equinix by 34.2% in the 1st quarter. First Hawaiian Bank now owns 663 shares of the financial services provider's stock valued at $541,000 after acquiring an additional 169 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

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.