Equinix's (EQIX) "Market Outperform" Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Equinix (NASDAQ:EQIX - Free Report) in a report issued on Thursday morning,Benzinga reports. The firm currently has a $1,200.00 price objective on the financial services provider's stock.

Several other analysts have also recently issued reports on the company. Royal Bank of Canada increased their target price on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Truist Financial raised their price target on Equinix from $935.00 to $1,090.00 and gave the company a "buy" rating in a report on Friday, November 29th. Barclays raised their price target on Equinix from $810.00 to $822.00 and gave the company an "equal weight" rating in a report on Monday, November 18th. BMO Capital Markets raised their price target on Equinix from $975.00 to $1,020.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus raised their price target on Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $994.82.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $10.60 during trading on Thursday, hitting $933.60. 523,352 shares of the company's stock were exchanged, compared to its average volume of 497,929. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The business's 50-day simple moving average is $934.88 and its 200 day simple moving average is $897.69. The company has a market cap of $90.08 billion, a price-to-earnings ratio of 84.18, a PEG ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. As a group, equities analysts predict that Equinix will post 31.09 EPS for the current year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.01%. Equinix's payout ratio is 153.65%.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of Equinix stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company's stock, valued at $2,951,211.78. The trade was a 49.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kurt Pletcher sold 222 shares of Equinix stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares in the company, valued at $976,633. This represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,701 shares of company stock valued at $15,441,464 in the last ninety days. Corporate insiders own 0.27% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EQIX. Exchange Traded Concepts LLC purchased a new position in shares of Equinix in the 3rd quarter valued at $328,000. Creative Planning grew its stake in Equinix by 16.7% during the 3rd quarter. Creative Planning now owns 7,754 shares of the financial services provider's stock worth $6,883,000 after buying an additional 1,111 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in Equinix by 2.7% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 1,650 shares of the financial services provider's stock worth $1,465,000 after buying an additional 44 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Equinix during the 3rd quarter worth $1,878,000. Finally, Presima Securities ULC grew its stake in Equinix by 1.5% during the 3rd quarter. Presima Securities ULC now owns 56,945 shares of the financial services provider's stock worth $50,546,000 after buying an additional 840 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other 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.