Equinix (NASDAQ:EQIX) Price Target Raised to $1,100.00

Equinix (NASDAQ:EQIX) had its price target raised by equities research analysts at Wells Fargo & Company from $985.00 to $1,100.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 13.98% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Scotiabank boosted their price objective on Equinix from $954.00 to $985.00 and gave the stock a “sector outperform” rating in a research report on Thursday, October 31st. Hsbc Global Res upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 4th. The Goldman Sachs Group raised their price target on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Evercore ISI increased their price objective on Equinix from $945.00 to $975.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus boosted their target price on Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $970.38.

Equinix Trading Down 0.4 %

Shares of EQIX stock traded down $3.94 during trading hours on Tuesday, hitting $965.04. 143,629 shares of the company’s stock traded hands, compared to its average volume of 529,035. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix has a 12 month low of $684.14 and a 12 month high of $994.03. The stock has a market cap of $93.12 billion, a PE ratio of 87.02, a price-to-earnings-growth ratio of 2.54 and a beta of 0.72. The stock’s 50 day simple moving average is $912.85 and its 200 day simple moving average is $840.99.

Insider Buying and Selling

In related news, insider Brandi Galvin Morandi sold 863 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the completion of the sale, the insider now directly owns 8,231 shares of the company’s stock, valued at approximately $7,531,365. This trade represents a 9.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the sale, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,398 shares of company stock valued at $7,906,218 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

Large investors have recently modified their holdings of the business. GHP Investment Advisors Inc. increased its holdings in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its position in Equinix by 50.0% during the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Equinix in the second quarter valued at approximately $36,000. Sugarloaf Wealth Management LLC raised its stake in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 20 shares during the last quarter. Finally, Dunhill Financial LLC grew its holdings in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares in the last quarter. 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.