Equinix (NASDAQ:EQIX) PT Raised to $720.00 at Royal Bank of Canada

Equinix (NASDAQ:EQIXGet Rating) had its price target boosted by Royal Bank of Canada from $668.00 to $720.00 in a research report issued to clients and investors on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 9.55% from the stock’s previous close.

Several other analysts also recently weighed in on EQIX. Credit Suisse Group boosted their price target on Equinix from $571.00 to $591.00 and gave the company a “neutral” rating in a research note on Thursday, November 3rd. Cowen decreased their price objective on shares of Equinix to $726.00 in a research note on Thursday, October 20th. Morgan Stanley cut their price objective on shares of Equinix from $732.00 to $704.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 26th. William Blair reissued an “outperform” rating on shares of Equinix in a report on Thursday, July 28th. Finally, Barclays lowered shares of Equinix from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $833.00 to $674.00 in a report on Friday, September 23rd. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $748.53.

Equinix Trading Up 3.3 %

Shares of Equinix stock opened at $657.23 on Monday. The firm has a market capitalization of $60.82 billion, a price-to-earnings ratio of 85.91, a PEG ratio of 2.74 and a beta of 0.53. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 1.30. Equinix has a 12-month low of $494.89 and a 12-month high of $853.42. The firm’s 50 day simple moving average is $583.45 and its two-hundred day simple moving average is $637.37.

Insider Buying and Selling

In other news, insider Brandi Galvin Morandi sold 65 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $549.83, for a total value of $35,738.95. Following the completion of the sale, the insider now directly owns 17,285 shares in the company, valued at $9,503,811.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Brandi Galvin Morandi sold 65 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $549.83, for a total value of $35,738.95. Following the sale, the insider now directly owns 17,285 shares in the company, valued at approximately $9,503,811.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles J. Meyers sold 377 shares of Equinix stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $650.00, for a total transaction of $245,050.00. Following the sale, the chief executive officer now owns 7,439 shares of the company’s stock, valued at $4,835,350. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EQIX. Credit Agricole S A boosted its holdings in Equinix by 7.2% during the 2nd quarter. Credit Agricole S A now owns 9,821 shares of the financial services provider’s stock valued at $6,452,000 after acquiring an additional 656 shares during the period. Capital International Sarl grew its holdings in shares of Equinix by 0.8% in the first quarter. Capital International Sarl now owns 19,576 shares of the financial services provider’s stock valued at $14,518,000 after purchasing an additional 158 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Equinix by 24.0% during the 1st quarter. Teacher Retirement System of Texas now owns 21,634 shares of the financial services provider’s stock worth $16,044,000 after buying an additional 4,184 shares during the period. AdvisorNet Financial Inc lifted its holdings in Equinix by 36.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 101 shares of the financial services provider’s stock worth $66,000 after buying an additional 27 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in Equinix by 2.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 2,392 shares of the financial services provider’s stock valued at $1,572,000 after buying an additional 63 shares during the period. 93.82% of the stock is currently owned by institutional investors and hedge funds.

Equinix Company Profile

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Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.

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