Scotiabank Lowers Equinix (NASDAQ:EQIX) Price Target to $1,030.00

Equinix (NASDAQ:EQIX) had its price target lowered by equities research analysts at Scotiabank from $1,040.00 to $1,030.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price target would suggest a potential upside of 27.27% from the company’s current price.

A number of other brokerages have also recently weighed in on EQIX. Oppenheimer increased their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Barclays upped their price target on shares of Equinix from $822.00 to $834.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th. Finally, Wolfe Research upgraded shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective on the stock in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $1,004.94.

Equinix Price Performance

Shares of EQIX opened at $809.32 on Tuesday. Equinix has a 52 week low of $684.14 and a 52 week high of $994.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $79.17 billion, a price-to-earnings ratio of 94.66, a PEG ratio of 1.78 and a beta of 0.95. The stock has a 50 day moving average of $839.40 and a 200-day moving average of $895.62.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 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%. As a group, analysts forecast that Equinix will post 33.1 EPS for the current year.

Insider Buying and Selling at Equinix

In related news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kurt Pletcher sold 215 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 1,245 shares of the company’s stock, valued at $1,157,513.85. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,040 shares of company stock valued at $6,547,068. 0.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Equinix

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

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.