Equinix (NASDAQ:EQIX) Rating Increased to Strong-Buy at Citizens Jmp

Equinix (NASDAQ:EQIX - Get Free Report) was upgraded by investment analysts at Citizens Jmp to a "strong-buy" rating in a note issued to investors on Monday,Zacks.com reports.

EQIX has been the topic of several other reports. TD Cowen increased their target price on Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Scotiabank raised their target price on Equinix from $985.00 to $1,114.00 and gave the company a "sector outperform" rating in a research note on Thursday, January 23rd. Evercore ISI boosted their price objective on Equinix from $945.00 to $975.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. BMO Capital Markets raised their price target on shares of Equinix from $975.00 to $1,020.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price objective on Equinix from $985.00 to $1,100.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $997.53.

Equinix Trading Down 0.9 %

EQIX stock traded down $8.47 during midday trading on Monday, hitting $913.66. The stock had a trading volume of 641,885 shares, compared to its average volume of 525,777. The firm has a market cap of $88.16 billion, a PE ratio of 82.39, a price-to-earnings-growth ratio of 2.16 and a beta of 0.73. 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 12-month low of $684.14 and a 12-month high of $994.03. The company's 50-day moving average price is $943.72 and its 200 day moving average price is $885.47.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the transaction, the chief financial officer now owns 18,966 shares of the company's stock, valued at approximately $18,419,399.88. This represents a 7.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the sale, the director now owns 17,794 shares of the company's stock, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,823 shares of company stock worth $16,474,442. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Key Financial Inc increased its position in Equinix by 30.4% during the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider's stock worth $57,000 after acquiring an additional 14 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Equinix in the fourth quarter valued at about $31,000. Venturi Wealth Management LLC grew its position in Equinix by 37.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,739 shares of the financial services provider's stock worth $1,640,000 after buying an additional 470 shares in the last quarter. Truist Financial Corp increased its stake in Equinix by 6.6% during the fourth quarter. Truist Financial Corp now owns 48,320 shares of the financial services provider's stock valued at $45,560,000 after acquiring an additional 2,990 shares during the period. Finally, Blue Chip Partners LLC raised its holdings in Equinix by 1.6% in the 4th quarter. Blue Chip Partners LLC now owns 13,090 shares of the financial services provider's stock valued at $12,343,000 after acquiring an additional 212 shares in the last quarter. 94.94% of the stock is owned by 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.