Brokerages Set Equinix, Inc. (NASDAQ:EQIX) PT at $883.71

Shares of Equinix, Inc. (NASDAQ:EQIX - Get Free Report) have earned an average rating of "Moderate Buy" from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $883.71.

Several research firms have recently commented on EQIX. Barclays boosted their price target on shares of Equinix from $669.00 to $671.00 and gave the company an "equal weight" rating in a report on Thursday, May 30th. Royal Bank of Canada lowered their target price on Equinix from $950.00 to $922.00 and set an "outperform" rating for the company in a report on Tuesday, May 28th. Mizuho increased their target price on Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a research report on Thursday. TD Cowen boosted their price target on Equinix from $859.00 to $865.00 and gave the stock a "buy" rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company raised Equinix from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $825.00 to $875.00 in a research report on Tuesday, July 23rd.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 864 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at $7,729,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brandi Galvin Morandi sold 864 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total transaction of $734,400.00. Following the completion of the sale, the insider now owns 9,094 shares of the company's stock, valued at $7,729,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Meredith Williamson sold 576 shares of the firm's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $824.19, for a total transaction of $474,733.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,043 shares of company stock valued at $8,282,119. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Equinix

Institutional investors have recently added to or reduced their stakes in the stock. CNB Bank raised its holdings in Equinix by 172.7% in the 1st quarter. CNB Bank now owns 30 shares of the financial services provider's stock valued at $25,000 after buying an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Equinix in the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new position in Equinix during the first quarter worth $31,000. Meeder Asset Management Inc. acquired a new stake in shares of Equinix in the second quarter valued at $36,000. Finally, Rise Advisors LLC purchased a new stake in shares of Equinix in the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Trading Up 0.6 %

EQIX traded up $5.03 on Monday, reaching $876.57. 249,057 shares of the company traded hands, compared to its average volume of 545,457. The company has a market cap of $83.19 billion, a P/E ratio of 87.42, a price-to-earnings-growth ratio of 2.11 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 has a one year low of $677.80 and a one year high of $914.93. The firm has a fifty day simple moving average of $811.47 and a two-hundred day simple moving average of $792.85.

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 for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.16 billion. Equinix had a return on equity of 8.46% and a net margin of 12.24%. Equinix's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.04 earnings per share. As a group, equities research analysts expect that Equinix will post 31.01 earnings per share for the current year.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix's dividend payout ratio (DPR) is presently 170.91%.

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.