Equinix (NASDAQ:EQIX) Given New $975.00 Price Target at Oppenheimer

Equinix (NASDAQ:EQIX - Free Report) had its price target upped by Oppenheimer from $950.00 to $975.00 in a research note issued to investors on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider's stock.

EQIX has been the topic of a number of other research reports. BMO Capital Markets raised their target price on Equinix from $975.00 to $1,020.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a research note on Monday, January 27th. Royal Bank of Canada lifted their price target on shares of Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. TD Cowen upped their price objective on shares of Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, Stifel Nicolaus lifted their target price on Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Equinix presently has an average rating of "Buy" and a consensus target price of $994.82.

Equinix Trading Up 1.1 %

Equinix stock traded up $10.60 during mid-day trading on Thursday, hitting $933.60. The stock had a trading volume of 523,352 shares, compared to its average volume of 497,929. The stock has a 50-day simple moving average of $934.88 and a two-hundred day simple moving average of $897.69. 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 stock has a market capitalization of $90.08 billion, a PE ratio of 84.18, a P/E/G ratio of 2.23 and a beta of 0.72. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. As a group, sell-side analysts forecast that Equinix will post 31.09 EPS for the current year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.01%. Equinix's dividend payout ratio (DPR) is 153.65%.

Insider Activity

In other news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the sale, the chief executive officer now directly owns 3,069 shares of the company's stock, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Keith D. Taylor sold 1,500 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $971.18, for a total value of $1,456,770.00. Following the completion of the transaction, the chief financial officer now directly owns 18,966 shares of the company's stock, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,701 shares of company stock valued at $15,441,464. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Equinix

Several hedge funds have recently bought and sold shares of EQIX. Kestra Investment Management LLC bought a new position in Equinix in the fourth quarter valued at approximately $31,000. GHP Investment Advisors Inc. grew its position in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 13 shares during the last quarter. Fortitude Family Office LLC raised its stake in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock worth $35,000 after acquiring an additional 13 shares in the last quarter. J.Safra Asset Management Corp bought a new position in shares of Equinix in the fourth quarter worth about $39,000. Finally, Sierra Ocean LLC acquired a new stake in shares of Equinix in the 4th quarter valued at approximately $42,000. 94.94% of the stock is owned by institutional investors.

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.