Brokerages Set Equinix, Inc. (NASDAQ:EQIX) Target Price at $944.63

Shares of Equinix, Inc. (NASDAQ:EQIX - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $944.63.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the company an "overweight" rating in a research note on Tuesday, October 1st. Cfra reissued a "hold" rating on shares of Equinix in a research note on Tuesday, September 24th. Truist Financial boosted 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. HSBC raised Equinix from a "hold" rating to a "buy" rating and boosted their price target for the company from $865.00 to $1,000.00 in a research note on Friday, October 4th. Finally, Mizuho lifted their target price on shares of Equinix from $873.00 to $971.00 and gave the company an "outperform" rating in a research note on Thursday, September 12th.

Equinix Stock Up 1.5 %

NASDAQ:EQIX traded up $13.07 during mid-day trading on Tuesday, hitting $908.99. The company had a trading volume of 344,921 shares, compared to its average volume of 528,022. Equinix has a 1 year low of $684.14 and a 1 year high of $943.02. The business has a fifty day simple moving average of $871.10 and a 200-day simple moving average of $807.85. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $87.71 billion, a price-to-earnings ratio of 80.79, a PEG ratio of 2.14 and a beta of 0.71.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts' consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 12.29% and a return on equity of 8.34%. The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same period in the prior year, the company posted $8.04 EPS. The company's revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts forecast that Equinix will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix's payout ratio is presently 153.65%.

Insiders Place Their Bets

In other news, EVP Jonathan Lin sold 93 shares of the firm's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares in the company, valued at approximately $5,862,689.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Brandi Galvin Morandi sold 1,726 shares of Equinix stock in a transaction on Friday, November 1st. The shares were sold at an average price of $904.99, for a total transaction of $1,562,012.74. Following the transaction, the insider now directly owns 6,505 shares of the company's stock, valued at $5,886,959.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan Lin sold 93 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.99, for a total transaction of $76,352.07. Following the completion of the sale, the executive vice president now owns 7,141 shares of the company's stock, valued at approximately $5,862,689.59. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,632 shares of company stock worth $10,633,777. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Equinix

Hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix in the 2nd quarter valued at $30,000. LRI Investments LLC acquired a new stake in shares of Equinix in the first quarter valued at about $31,000. GHP Investment Advisors Inc. raised its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC grew its stake in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Equinix during the 2nd quarter worth approximately $36,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.