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

Shares of Equinix, Inc. (NASDAQ:EQIX) have been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $976.81.

EQIX has been the topic of several recent research reports. TD Cowen upped their price target on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased 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. Hsbc Global Res raised Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. Barclays upped their price target on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Cfra restated a “hold” rating on shares of Equinix in a research note on Tuesday, September 24th.

Insider Buying and Selling at Equinix

In other news, EVP Raouf Abdel sold 1,022 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the completion of the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at $4,518,979.08. The trade was a 17.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 222 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the transaction, the insider now directly owns 1,015 shares in the company, valued at approximately $976,633. This represents a 17.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,398 shares of company stock worth $7,906,218 in the last three months. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equinix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Equinix during the 3rd quarter valued at $2,483,000. Inspire Trust Co. N.A. boosted its holdings in Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider’s stock worth $1,509,000 after buying an additional 11 shares during the period. Tidal Investments LLC increased its stake in Equinix by 12.9% in the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider’s stock worth $22,880,000 after buying an additional 2,940 shares in the last quarter. Finally, Cim Investment Management Inc. raised its holdings in Equinix by 31.4% during the third quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider’s stock valued at $3,261,000 after acquiring an additional 879 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Down 0.6 %

NASDAQ:EQIX opened at $942.66 on Wednesday. Equinix has a one year low of $684.14 and a one year high of $994.03. The company’s 50-day simple moving average is $933.01 and its 200 day simple moving average is $859.58. The firm has a market capitalization of $90.96 billion, a P/E ratio of 85.00, a PEG ratio of 2.51 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.16 and a quick ratio of 1.16.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a $4.26 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.81%. Equinix’s payout ratio is 153.65%.

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.