Barclays Cuts Equinix (NASDAQ:EQIX) Price Target to $669.00

Equinix (NASDAQ:EQIX) had its price target reduced by Barclays from $818.00 to $669.00 in a research note released on Wednesday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other research firms also recently commented on EQIX. Wells Fargo & Company lifted their target price on shares of Equinix from $800.00 to $825.00 and gave the stock an equal weight rating in a research report on Thursday, February 15th. HSBC downgraded shares of Equinix from a buy rating to a hold rating and set a $900.00 target price on the stock. in a research report on Wednesday, March 20th. Truist Financial lifted their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a buy rating in a research report on Monday, March 18th. Stifel Nicolaus reiterated a buy rating and set a $960.00 target price on shares of Equinix in a research report on Wednesday, March 13th. Finally, Royal Bank of Canada lifted their target price on shares of Equinix from $855.00 to $950.00 and gave the stock an outperform rating in a research report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $862.50.

Equinix Trading Down 1.0 %

Shares of Equinix stock opened at $734.56 on Wednesday. The firm has a market capitalization of $69.50 billion, a PE ratio of 71.25, a price-to-earnings-growth ratio of 1.78 and a beta of 0.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm’s 50 day moving average is $838.03 and its 200 day moving average is $801.76. Equinix has a 1 year low of $672.88 and a 1 year high of $914.93.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.32%. Equinix’s payout ratio is presently 165.28%.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now owns 23,187 shares in the company, valued at approximately $19,314,307.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Equinix news, EVP Scott Crenshaw sold 460 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.97, for a total transaction of $383,166.20. Following the completion of the sale, the executive vice president now owns 1,242 shares in the company, valued at approximately $1,034,548.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the sale, the chief financial officer now owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock worth $3,818,268 in the last quarter. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Equinix

A number of hedge funds and other institutional investors have recently bought and sold shares of EQIX. Valley National Advisers Inc. increased its stake in Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 26 shares in the last quarter. Providence Capital Advisors LLC bought a new stake in shares of Equinix in the 3rd quarter worth $29,000. Criterion Capital Advisors LLC bought a new stake in shares of Equinix in the 4th quarter worth $32,000. Operose Advisors LLC bought a new stake in shares of Equinix in the 3rd quarter worth $36,000. Finally, Asset Dedication LLC grew its stake in shares of Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Company Profile

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.