Equinix, Inc. (NASDAQ:EQIX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Equinix, Inc. (NASDAQ:EQIX) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $862.50.

A number of research analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. Truist Financial upped their price target on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. BMO Capital Markets boosted their target price on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Finally, Oppenheimer boosted their price target on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th.

Equinix Price Performance

Shares of EQIX stock opened at $761.90 on Friday. The stock’s 50-day moving average is $830.25 and its 200 day moving average is $803.39. Equinix has a 1-year low of $672.88 and a 1-year high of $914.93. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $72.09 billion, a P/E ratio of 73.90, a PEG ratio of 1.94 and a beta of 0.58.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.24%. Equinix’s dividend payout ratio is presently 165.28%.

Insiders Place Their Bets

In related news, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the completion of the transaction, the insider now directly owns 14,002 shares in the company, valued at $11,661,425.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Equinix news, CEO Charles J. Meyers sold 2,110 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the completion of the transaction, the chief executive officer now owns 10,115 shares in the company, valued at $8,422,659.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the sale, the insider now owns 14,002 shares in the company, valued at $11,661,425.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,585 shares of company stock valued at $3,818,268. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently bought and sold shares of EQIX. Valley National Advisers Inc. grew its position in shares of Equinix by 260.0% in the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 26 shares during the period. Providence Capital Advisors LLC acquired a new stake in Equinix in the 3rd quarter worth about $29,000. Criterion Capital Advisors LLC purchased a new stake in Equinix during the 4th quarter worth approximately $32,000. Rise Advisors LLC acquired a new position in shares of Equinix during the first quarter valued at approximately $39,000. Finally, Operose Advisors LLC purchased a new position in shares of Equinix in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.