Royal Bank of Canada Forecasts Strong Price Appreciation for Equinix (NASDAQ:EQIX) Stock

Equinix (NASDAQ:EQIX - Free Report) had its price objective raised by Royal Bank of Canada from $936.00 to $1,025.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider's stock.

A number of other brokerages have also weighed in on EQIX. TD Cowen increased their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Stifel Nicolaus increased their target price on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. Evercore ISI raised their price target on Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $976.81.

Equinix Stock Performance

Shares of EQIX traded up $11.85 during mid-day trading on Wednesday, hitting $973.57. The stock had a trading volume of 387,828 shares, compared to its average volume of 529,832. 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 firm has a market cap of $93.94 billion, a P/E ratio of 87.79, a PEG ratio of 2.54 and a beta of 0.72. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The business has a fifty day moving average price of $914.42 and a 200-day moving average price of $842.36.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix's dividend payout ratio (DPR) is currently 153.65%.

Insider Activity

In other Equinix news, CEO Adaire Fox-Martin sold 2,965 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 863 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $915.00, for a total value of $789,645.00. Following the transaction, the insider now directly owns 8,231 shares in the company, valued at $7,531,365. This trade represents a 9.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is currently owned by insiders.

Institutional Trading of Equinix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider's stock worth $960,820,000 after purchasing an additional 813,666 shares during the period. Pathway Financial Advisers LLC raised its position in Equinix by 89,348.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider's stock valued at $354,111,000 after purchasing an additional 398,494 shares during the last quarter. Adelante Capital Management LLC raised its position in Equinix by 202.3% during the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider's stock valued at $456,441,000 after purchasing an additional 344,114 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Equinix by 14.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider's stock worth $1,428,606,000 after buying an additional 238,883 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Equinix by 104.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 314,741 shares of the financial services provider's stock worth $238,133,000 after buying an additional 160,906 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

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.