Equinix, Inc. (NASDAQ:EQIX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Equinix, Inc. (NASDAQ:EQIX) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $862.50.

Several analysts have recently weighed in on EQIX shares. Wells Fargo & Company raised their price objective on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Barclays dropped their price objective on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. Wolfe Research raised shares of Equinix from an “underperform” rating to a “peer perform” rating in a report on Tuesday, January 2nd. Finally, Morgan Stanley dropped their price objective on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th.

Equinix Stock Performance

NASDAQ EQIX opened at $739.85 on Friday. The stock has a market cap of $70.00 billion, a P/E ratio of 71.76, a PEG ratio of 1.92 and a beta of 0.58. The company’s 50-day simple moving average is $835.72 and its 200 day simple moving average is $801.33. Equinix has a twelve month low of $672.88 and a twelve month high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio is currently 165.28%.

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Equinix news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at $11,661,425.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles J. Meyers sold 2,110 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the completion of the transaction, the chief executive officer now directly owns 10,115 shares in the company, valued at $8,422,659.35. The disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock valued at $3,818,268 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Goelzer Investment Management Inc. raised its holdings in shares of Equinix by 0.3% during the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock worth $3,364,000 after acquiring an additional 13 shares during the period. Balentine LLC boosted its holdings in shares of Equinix by 0.8% during the 3rd quarter. Balentine LLC now owns 1,707 shares of the financial services provider’s stock worth $1,240,000 after buying an additional 14 shares during the period. Sage Mountain Advisors LLC boosted its holdings in Equinix by 3.9% in the 4th quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 14 shares during the period. DRW Securities LLC boosted its holdings in Equinix by 2.7% in the 2nd quarter. DRW Securities LLC now owns 535 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 14 shares during the period. Finally, Equitable Holdings Inc. boosted its holdings in Equinix by 0.5% in the 1st quarter. Equitable Holdings Inc. now owns 3,085 shares of the financial services provider’s stock valued at $2,224,000 after purchasing an additional 14 shares during the period. 94.94% of the stock is owned by institutional investors.

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.