StockNews.com Downgrades Equinix (NASDAQ:EQIX) to Hold

Equinix (NASDAQ:EQIXGet Rating) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

EQIX has been the subject of several other research reports. Citigroup reduced their target price on shares of Equinix from $810.00 to $750.00 in a report on Sunday, November 13th. Raymond James reduced their price objective on Equinix from $950.00 to $800.00 and set a “strong-buy” rating for the company in a report on Tuesday, October 11th. Royal Bank of Canada increased their target price on Equinix from $668.00 to $720.00 and gave the stock an “outperform” rating in a research note on Monday, November 14th. Cowen decreased their price objective on Equinix to $726.00 in a report on Thursday, October 20th. Finally, Oppenheimer raised Equinix from a “market perform” rating to an “outperform” rating and set a $750.00 target price for the company in a report on Thursday, July 28th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $751.18.

Equinix Trading Up 2.4 %

Shares of NASDAQ:EQIX opened at $671.77 on Wednesday. The company has a 50-day simple moving average of $584.13 and a 200 day simple moving average of $635.26. The company has a market capitalization of $62.17 billion, a P/E ratio of 87.81, a price-to-earnings-growth ratio of 2.72 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.37 and a current ratio of 2.37. Equinix has a 52-week low of $494.89 and a 52-week high of $853.42.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 65 shares of Equinix stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $549.83, for a total transaction of $35,738.95. Following the sale, the insider now directly owns 17,285 shares of the company’s stock, valued at approximately $9,503,811.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equinix news, insider Brandi Galvin Morandi sold 65 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $549.83, for a total value of $35,738.95. Following the completion of the transaction, the insider now owns 17,285 shares of the company’s stock, valued at approximately $9,503,811.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles J. Meyers sold 377 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $650.00, for a total value of $245,050.00. Following the completion of the transaction, the chief executive officer now owns 7,439 shares of the company’s stock, valued at $4,835,350. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 492 shares of company stock valued at $313,723. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

A number of institutional investors have recently added to or reduced their stakes in EQIX. Tower Bridge Advisors lifted its holdings in shares of Equinix by 3.9% during the first quarter. Tower Bridge Advisors now owns 395 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 15 shares during the period. MUFG Americas Holdings Corp lifted its holdings in Equinix by 1.6% during the 1st quarter. MUFG Americas Holdings Corp now owns 1,032 shares of the financial services provider’s stock worth $765,000 after buying an additional 16 shares during the period. Greenleaf Trust grew its position in shares of Equinix by 1.2% in the 2nd quarter. Greenleaf Trust now owns 1,301 shares of the financial services provider’s stock valued at $855,000 after buying an additional 16 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Equinix by 10.3% in the first quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock valued at $127,000 after buying an additional 16 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Equinix by 4.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 401 shares of the financial services provider’s stock worth $297,000 after acquiring an additional 17 shares during the last quarter. 93.82% of the stock is owned by institutional investors.

About Equinix

(Get Rating)

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

See Also

Analyst Recommendations for Equinix (NASDAQ:EQIX)

Receive News & Ratings for Equinix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equinix and related companies with MarketBeat.com's FREE daily email newsletter.