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

Equinix, Inc. (NASDAQ:EQIXGet Free Report) has earned an average rating of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $872.81.

Several analysts recently weighed in on EQIX shares. HSBC lowered Equinix from a “buy” rating to a “hold” rating and set a $900.00 price target on the stock. in a report on Wednesday, March 20th. Royal Bank of Canada reduced their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Wells Fargo & Company increased their target price on Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. BMO Capital Markets increased their target price on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Finally, Morgan Stanley reduced their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th.

View Our Latest Stock Report on Equinix

Equinix Stock Down 1.2 %

NASDAQ EQIX opened at $753.39 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market capitalization of $71.50 billion, a P/E ratio of 75.57, a P/E/G ratio of 2.64 and a beta of 0.68. Equinix has a one year low of $677.80 and a one year high of $914.93. The stock has a 50 day moving average price of $759.01 and a 200-day moving average price of $804.87.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be issued a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, May 21st. Equinix’s dividend payout ratio is presently 170.91%.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

A number of institutional investors and hedge funds have recently made changes to their positions in EQIX. Norges Bank purchased a new stake in shares of Equinix in the fourth quarter valued at approximately $1,574,132,000. Swedbank AB acquired a new stake in shares of Equinix in the first quarter worth approximately $294,526,000. Vanguard Group Inc. boosted its stake in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock worth $10,319,917,000 after acquiring an additional 238,815 shares during the last quarter. M&G Plc acquired a new stake in shares of Equinix in the first quarter worth approximately $187,089,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Equinix by 14.9% in the first quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock worth $1,361,224,000 after acquiring an additional 213,740 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Company Profile

(Get Free Report

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.

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Analyst Recommendations for Equinix (NASDAQ:EQIX)

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