Equinix (NASDAQ:EQIX) Given New $1,033.00 Price Target at Scotiabank

Equinix (NASDAQ:EQIX - Get Free Report) had its target price reduced by equities research analysts at Scotiabank from $1,114.00 to $1,033.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the financial services provider's stock. Scotiabank's price objective would suggest a potential upside of 10.65% from the company's previous close.

A number of other analysts have also issued reports on EQIX. Wells Fargo & Company lowered their price target on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a research note on Thursday. Citizens Jmp raised Equinix to a "strong-buy" rating in a research note on Monday, January 27th. Barclays boosted their price objective on Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. JMP Securities reissued a "market outperform" rating and set a $1,200.00 price objective on shares of Equinix in a research note on Thursday. Finally, Stifel Nicolaus boosted their price objective on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $994.82.

Equinix Price Performance

Shares of NASDAQ:EQIX traded up $10.60 during trading on Thursday, reaching $933.60. The stock had a trading volume of 523,352 shares, compared to its average volume of 497,929. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The business has a fifty day moving average price of $934.88 and a 200-day moving average price of $897.69. The stock has a market cap of $90.08 billion, a PE ratio of 84.18, a PEG ratio of 2.23 and a beta of 0.72. Equinix has a 1-year low of $684.14 and a 1-year high of $994.03.

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

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares of the company's stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following 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 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 three months. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

A number of hedge funds have recently added to or reduced their stakes in the stock. Raiffeisen Bank International AG acquired a new stake in Equinix during the 4th quarter worth approximately $61,499,000. Point72 Europe London LLP raised its stake in shares of Equinix by 58.0% during the 4th quarter. Point72 Europe London LLP now owns 10,900 shares of the financial services provider's stock worth $10,278,000 after buying an additional 4,000 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Equinix by 7.5% during the 4th quarter. ProShare Advisors LLC now owns 18,859 shares of the financial services provider's stock worth $17,782,000 after buying an additional 1,316 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Equinix by 21.0% during the 4th quarter. Quantinno Capital Management LP now owns 11,312 shares of the financial services provider's stock worth $10,667,000 after buying an additional 1,960 shares in the last quarter. Finally, Pathstone Holdings LLC raised its stake in shares of Equinix by 3.9% during the 4th quarter. Pathstone Holdings LLC now owns 13,489 shares of the financial services provider's stock worth $12,718,000 after buying an additional 512 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

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.