Equinix (NASDAQ:EQIX) Stock Price Expected to Rise, Barclays Analyst Says

Equinix (NASDAQ:EQIX - Get Free Report) had its price objective hoisted by analysts at Barclays from $822.00 to $834.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Barclays's price objective would indicate a potential downside of 2.16% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Truist Financial reduced their target price on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Citizens Jmp upgraded shares of Equinix to a "strong-buy" rating in a report on Monday, January 27th. Stifel Nicolaus upped their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Finally, BMO Capital Markets decreased their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $990.06.

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Equinix Price Performance

Shares of Equinix stock traded up $17.85 on Thursday, hitting $852.44. The company's stock had a trading volume of 745,799 shares, compared to its average volume of 520,711. The company has a market capitalization of $82.97 billion, a P/E ratio of 99.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix has a 52-week low of $684.14 and a 52-week high of $994.03. The firm has a fifty day moving average price of $902.62 and a 200-day moving average price of $909.60. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities research analysts expect that Equinix will post 33.1 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,054 shares of company stock valued at $17,466,950. Company insiders own 0.27% of the company's stock.

Institutional Trading of Equinix

Several large investors have recently bought and sold shares of EQIX. Oppenheimer & Co. Inc. grew its holdings in Equinix by 61.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider's stock valued at $7,946,000 after purchasing an additional 3,212 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider's stock worth $592,191,000 after purchasing an additional 2,560 shares during the last quarter. National Pension Service lifted its holdings in Equinix by 1.3% during the 4th quarter. National Pension Service now owns 243,149 shares of the financial services provider's stock worth $229,263,000 after buying an additional 3,164 shares during the last quarter. Brookfield Corp ON grew its position in shares of Equinix by 67.3% in the 3rd quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider's stock worth $71,685,000 after acquiring an additional 32,481 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider's stock valued at $2,361,000 after acquiring an additional 404 shares during the last quarter. Institutional investors and hedge funds 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.