BMO Capital Markets Forecasts Strong Price Appreciation for Equinix (NASDAQ:EQIX) Stock

Equinix (NASDAQ:EQIX) had its target price lifted by equities research analysts at BMO Capital Markets from $975.00 to $1,020.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. BMO Capital Markets’ target price would suggest a potential upside of 14.30% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. TD Cowen lifted their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Truist Financial lifted their price target on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Evercore ISI upped their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company increased their price target on Equinix from $875.00 to $975.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $934.00.

Equinix Trading Down 2.0 %

Shares of NASDAQ:EQIX opened at $892.41 on Thursday. The stock has a market capitalization of $84.70 billion, a PE ratio of 91.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.71. The company’s 50-day moving average price is $866.57 and its two-hundred day moving average price is $804.08. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. Equinix has a one year low of $684.14 and a one year high of $943.02.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a return on equity of 8.46% and a net margin of 12.24%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm earned $8.04 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities analysts forecast that Equinix will post 31.01 EPS for the current fiscal year.

Insider Buying and Selling at Equinix

In other news, CAO Simon Miller sold 569 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.91, for a total transaction of $467,097.79. Following the sale, the chief accounting officer now directly owns 5,554 shares of the company’s stock, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the completion of the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Simon Miller sold 569 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $820.91, for a total value of $467,097.79. Following the completion of the sale, the chief accounting officer now directly owns 5,554 shares in the company, valued at approximately $4,559,334.14. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,906 shares of company stock valued at $9,071,764 in the last three months. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of institutional investors have recently modified their holdings of EQIX. Concurrent Investment Advisors LLC grew its position in Equinix by 2.6% in the third quarter. Concurrent Investment Advisors LLC now owns 1,331 shares of the financial services provider’s stock valued at $1,182,000 after acquiring an additional 34 shares during the last quarter. Catalina Capital Group LLC grew its holdings in shares of Equinix by 11.9% during the 3rd quarter. Catalina Capital Group LLC now owns 329 shares of the financial services provider’s stock valued at $292,000 after purchasing an additional 35 shares during the last quarter. Austin Private Wealth LLC bought a new stake in shares of Equinix during the 3rd quarter valued at approximately $222,000. Arthur M. Cohen & Associates LLC increased its position in Equinix by 22.5% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 2,398 shares of the financial services provider’s stock worth $2,117,000 after purchasing an additional 441 shares in the last quarter. Finally, Red Cedar Investment Management LLC lifted its stake in Equinix by 65.0% in the 3rd quarter. Red Cedar Investment Management LLC now owns 3,215 shares of the financial services provider’s stock valued at $2,854,000 after purchasing an additional 1,267 shares during the last quarter. Institutional investors and hedge funds 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.