Citigroup Has Lowered Expectations for Equinix (NASDAQ:EQIX) Stock Price

Equinix (NASDAQ:EQIX) had its price target lowered by research analysts at Citigroup from $1,020.00 to $970.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Citigroup’s target price points to a potential upside of 22.76% from the company’s current price.

A number of other research analysts have also issued reports on EQIX. Wolfe Research upgraded Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 target price for the company in a report on Thursday, March 27th. Scotiabank raised their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 price objective on shares of Equinix in a research report on Thursday, February 13th. Finally, Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Equinix presently has a consensus rating of “Buy” and a consensus target price of $1,005.50.

Equinix Trading Up 1.5 %

EQIX opened at $790.15 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $77.29 billion, a P/E ratio of 92.42, a P/E/G ratio of 1.78 and a beta of 0.95. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The business has a fifty day simple moving average of $847.77 and a 200-day simple moving average of $897.45.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts expect that Equinix will post 33.1 earnings per share for the current year.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now directly owns 17,669 shares of the company’s stock, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 215 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total transaction of $199,891.95. Following the completion of the sale, the insider now owns 1,245 shares of the company’s stock, valued at $1,157,513.85. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,040 shares of company stock worth $6,547,068 in the last quarter. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Institutional investors have recently modified their holdings of the business. Pinney & Scofield Inc. purchased a new stake in shares of Equinix during the 4th quarter worth $28,000. Kestra Investment Management LLC acquired a new position in Equinix during the fourth quarter worth about $31,000. Whipplewood Advisors LLC lifted its position in shares of Equinix by 127.8% during the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 23 shares during the period. Pacific Center for Financial Services boosted its stake in shares of Equinix by 65.2% during the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 15 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in Equinix in the 4th quarter valued at approximately $39,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.