Brokerages Set Equinix, Inc. (NASDAQ:EQIX) Price Target at $976.81

Equinix, Inc. (NASDAQ:EQIX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $976.81.

EQIX has been the subject of a number of research analyst reports. Truist Financial increased their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. Evercore ISI lifted their price target on shares of Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Stifel Nicolaus upped their price target on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Barclays lifted their price objective on Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a report on Monday, November 18th. Finally, HSBC raised Equinix from a "hold" rating to a "buy" rating and upped their target price for the company from $865.00 to $1,000.00 in a report on Friday, October 4th.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 3,184 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now directly owns 22,076 shares in the company, valued at approximately $20,085,186.32. This represents a 12.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction on Friday, November 1st. The stock was sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the sale, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,412 shares of company stock worth $18,826,100 in the last 90 days. 0.27% of the stock is owned by company insiders.

Institutional Trading of Equinix

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its position in shares of Equinix by 81.9% in the 2nd quarter. Renaissance Technologies LLC now owns 30,870 shares of the financial services provider's stock worth $23,356,000 after acquiring an additional 13,900 shares in the last quarter. Intech Investment Management LLC lifted its stake in Equinix by 340.0% during the second quarter. Intech Investment Management LLC now owns 7,190 shares of the financial services provider's stock worth $5,440,000 after purchasing an additional 5,556 shares during the last quarter. Brighton Jones LLC acquired a new position in Equinix in the second quarter worth $202,000. Ieq Capital LLC increased its stake in Equinix by 4.8% during the second quarter. Ieq Capital LLC now owns 3,667 shares of the financial services provider's stock valued at $2,774,000 after purchasing an additional 169 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Equinix by 4.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 19,311 shares of the financial services provider's stock worth $14,608,000 after buying an additional 740 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Stock Performance

Shares of EQIX stock traded down $4.30 during trading hours on Friday, reaching $915.59. 623,359 shares of the company's stock were exchanged, compared to its average volume of 411,459. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. The company's 50 day moving average is $941.64 and its two-hundred day moving average is $876.70. The company has a market cap of $88.34 billion, a P/E ratio of 82.56, a price-to-earnings-growth ratio of 2.12 and a beta of 0.73. Equinix has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th were given a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix's dividend payout ratio (DPR) is presently 153.65%.

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.