Barclays Increases Equinix (NASDAQ:EQIX) Price Target to $822.00

Equinix (NASDAQ:EQIX - Free Report) had its price objective lifted by Barclays from $810.00 to $822.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the financial services provider's stock.

Other equities analysts have also issued research reports about the stock. Evercore ISI increased their target price on shares of Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Truist Financial raised their target price on Equinix from $915.00 to $935.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft raised their target price on Equinix from $880.00 to $910.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised their target price on Equinix from $875.00 to $975.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Finally, Hsbc Global Res raised Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $945.38.

Equinix Price Performance

Equinix stock traded up $12.11 during mid-day trading on Monday, hitting $909.48. 477,114 shares of the company traded hands, compared to its average volume of 526,400. Equinix has a one year low of $684.14 and a one year high of $943.02. The stock has a market cap of $87.76 billion, a price-to-earnings ratio of 80.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.71. 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 stock has a fifty day moving average price of $885.56 and a 200-day moving average price of $818.53.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.87%. Equinix's dividend payout ratio (DPR) is currently 153.65%.

Insider Transactions at Equinix

In related news, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction on Friday, November 8th. The stock was sold at an average price of $923.56, for a total transaction of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Simon Miller sold 569 shares of Equinix stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at $4,559,334.14. This trade represents a 9.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,654 shares of company stock worth $11,577,656 in the last ninety days. Insiders own 0.27% of the company's stock.

Institutional Investors Weigh In On Equinix

Several large investors have recently added to or reduced their stakes in EQIX. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake 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 valued at $960,820,000 after buying an additional 813,666 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Equinix by 89,348.4% in the third 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 period. Swedbank AB purchased a new stake in shares of Equinix in the first quarter valued at approximately $294,526,000. Adelante Capital Management LLC boosted its holdings in shares of Equinix by 202.3% in the third 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 period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Equinix by 14.5% in the second quarter. Principal Financial Group Inc. now owns 1,888,191 shares of the financial services provider's stock valued at $1,428,606,000 after purchasing an additional 238,883 shares during the period. 94.94% of the stock is owned by institutional investors.

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.