Analysts Set Equinix, Inc. (NASDAQ:EQIX) Price Target at $872.81

Equinix, Inc. (NASDAQ:EQIX) has earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $872.81.

Several analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Oppenheimer lifted their price objective on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price for the company. in a research report on Wednesday, March 20th. Barclays boosted their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Finally, Truist Financial boosted their target price on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, March 18th.

Equinix Price Performance

Shares of Equinix stock opened at $766.26 on Friday. Equinix has a twelve month low of $677.80 and a twelve month high of $914.93. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The company has a 50-day simple moving average of $756.41 and a two-hundred day simple moving average of $803.82. The stock has a market capitalization of $72.73 billion, a price-to-earnings ratio of 76.86, a price-to-earnings-growth ratio of 2.65 and a beta of 0.68.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s payout ratio is 170.91%.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the sale, the director now directly owns 17,641 shares of the company’s stock, valued at approximately $14,341,780.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of institutional investors have recently modified their holdings of the company. Goelzer Investment Management Inc. boosted its stake in shares of Equinix by 0.3% in the 4th quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock valued at $3,364,000 after purchasing an additional 13 shares during the last quarter. Balentine LLC boosted its stake in Equinix by 0.8% during the third quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock worth $1,240,000 after acquiring an additional 14 shares in the last quarter. Sage Mountain Advisors LLC boosted its stake in Equinix by 3.9% during the fourth quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 14 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Equinix by 3.0% during the first quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 14 shares in the last quarter. Finally, Banco Santander S.A. boosted its stake in Equinix by 2.0% during the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after acquiring an additional 14 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

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.