The Goldman Sachs Group Increases Equinix (NASDAQ:EQIX) Price Target to $980.00

Equinix (NASDAQ:EQIX) had its price target lifted by equities researchers at The Goldman Sachs Group from $870.00 to $980.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 11.02% from the company’s current price.

Several other equities analysts have also recently issued reports on EQIX. Barclays boosted their price target on Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. TD Cowen boosted their price target on Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft boosted their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Cfra restated a “hold” rating on shares of Equinix in a research report on Tuesday. Finally, Truist Financial boosted their price target on Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $891.57.

Equinix Stock Up 0.4 %

EQIX opened at $882.69 on Thursday. The business’s 50-day simple moving average is $826.88 and its 200-day simple moving average is $792.72. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix has a one year low of $677.80 and a one year high of $914.93. The stock has a market capitalization of $83.77 billion, a P/E ratio of 88.16, a price-to-earnings-growth ratio of 2.15 and a beta of 0.71.

Equinix (NASDAQ:EQIX) last posted its 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 return on equity of 8.46% and a net margin of 12.24%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter last year, the firm posted $8.04 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts anticipate that Equinix will post 31.01 EPS for the current year.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total transaction of $734,400.00. Following the sale, the insider now owns 9,094 shares of the company’s stock, valued at approximately $7,729,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Charles J. Meyers sold 6,234 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total value of $5,136,628.98. Following the sale, the chairman now owns 7,680 shares of the company’s stock, valued at approximately $6,328,089.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $850.00, for a total value of $734,400.00. Following the completion of the sale, the insider now directly owns 9,094 shares in the company, valued at approximately $7,729,900. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock valued at $8,282,119 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Equinix

A number of institutional investors and hedge funds have recently bought and sold shares of EQIX. Gryphon Financial Partners LLC purchased a new stake in Equinix in the 4th quarter valued at approximately $581,000. Parallel Advisors LLC raised its holdings in Equinix by 5.0% in the 4th quarter. Parallel Advisors LLC now owns 634 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 30 shares during the last quarter. Stifel Financial Corp raised its holdings in Equinix by 3.2% in the 4th quarter. Stifel Financial Corp now owns 77,758 shares of the financial services provider’s stock valued at $62,663,000 after acquiring an additional 2,421 shares during the last quarter. Roundview Capital LLC acquired a new position in Equinix in the 4th quarter valued at $588,000. Finally, Catalytic Wealth RIA LLC acquired a new position in Equinix in the 4th quarter valued at $341,000. 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.