Equinix (NASDAQ:EQIX) Given New $971.00 Price Target at Mizuho

Equinix (NASDAQ:EQIX - Free Report) had its price target upped by Mizuho from $873.00 to $971.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

A number of other equities analysts have also weighed in on the stock. Truist Financial upped their target price on shares of Equinix from $915.00 to $935.00 and gave the stock a buy rating in a research report on Wednesday, August 21st. The Goldman Sachs Group initiated coverage on Equinix in a research report on Monday, July 1st. They issued a buy rating and a $870.00 target price on the stock. TD Cowen raised their price target on Equinix from $859.00 to $865.00 and gave the company a buy rating in a report on Thursday, August 8th. Barclays upped their price objective on Equinix from $669.00 to $671.00 and gave the stock an equal weight rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Equinix from $880.00 to $910.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $883.71.

Equinix Price Performance

NASDAQ:EQIX traded up $1.11 on Thursday, reaching $868.81. 342,942 shares of the company's stock traded hands, compared to its average volume of 548,638. The stock has a 50-day simple moving average of $806.73 and a 200-day simple moving average of $793.62. Equinix has a 12 month low of $677.80 and a 12 month high of $914.93. The firm has a market cap of $82.46 billion, a PE ratio of 87.03, a P/E/G ratio of 1.99 and a beta of 0.71. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the business posted $8.04 EPS. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Equinix will post 31.01 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.96%. The ex-dividend date is Wednesday, August 21st. Equinix's payout ratio is currently 170.91%.

Insider Buying and Selling at Equinix

In other news, EVP Scott Crenshaw sold 1,107 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total value of $902,869.20. Following the sale, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Scott Crenshaw sold 1,107 shares of the company's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $815.60, for a total value of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares in the company, valued at $3,262.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the transaction, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders sold 10,043 shares of company stock worth $8,282,119 over the last 90 days. Company insiders own 0.27% of the company's stock.

Institutional Trading of Equinix

A number of large investors have recently modified their holdings of EQIX. Norges Bank purchased a new stake in shares of Equinix in the 4th quarter worth $1,574,132,000. Swedbank AB bought a new position in shares of Equinix during the 1st quarter worth $294,526,000. Principal Financial Group Inc. increased its stake in shares of Equinix by 14.5% during 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 buying an additional 238,883 shares during the period. Vanguard Group Inc. raised its holdings in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider's stock valued at $10,319,917,000 after acquiring an additional 238,815 shares in the last quarter. Finally, M&G Plc purchased a new stake in Equinix in the first quarter worth about $187,089,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

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.