Equinix, Inc. (NASDAQ:EQIX) Receives $1,007.59 Consensus PT from Analysts

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) has been assigned an average rating of "Buy" from the twenty-two research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $1,007.59.

Several research firms have recently weighed in on EQIX. BMO Capital Markets dropped their target price on shares of 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. JMP Securities reiterated a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Mizuho lowered their price target on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a report on Friday, March 28th. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Finally, Wolfe Research upgraded shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price target for the company in a report on Thursday, March 27th.

Equinix Price Performance

Shares of EQIX traded down $35.23 during trading hours on Friday, hitting $766.21. 820,368 shares of the company were exchanged, compared to its average volume of 551,538. The firm has a fifty day simple moving average of $883.46 and a 200-day simple moving average of $906.22. The company has a market capitalization of $74.58 billion, a PE ratio of 89.62, a PEG ratio of 1.78 and a beta of 0.74. 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 has a one year low of $684.14 and a one year high of $994.03.

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Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, sell-side analysts predict that Equinix will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a yield of 2.45%. This is an increase from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio is presently 219.42%.

Insider Activity

In other news, insider Brandi Galvin Morandi sold 684 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now directly owns 4,329 shares of the company's stock, valued at $3,937,268.79. This represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,054 shares of company stock valued at $17,466,950. Insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Equinix by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock valued at $11,941,418,000 after acquiring an additional 88,654 shares in the last quarter. State Street Corp increased its position in shares of Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock valued at $5,171,405,000 after purchasing an additional 81,941 shares during the period. Geode Capital Management LLC increased its position in shares of Equinix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock valued at $2,269,037,000 after purchasing an additional 62,005 shares during the period. FMR LLC lifted its position in Equinix by 3.7% in the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after purchasing an additional 81,144 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock worth $1,827,847,000 after buying an additional 44,471 shares in the last quarter. 94.94% of the stock is 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.