Equinix (NASDAQ:EQIX) Given New $837.00 Price Target at Barclays

Equinix (NASDAQ:EQIX) had its price target hoisted by Barclays from $834.00 to $837.00 in a report published on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

A number of other brokerages have also commented on EQIX. Citigroup raised their price target on Equinix from $970.00 to $990.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Wells Fargo & Company dropped their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Cowen reaffirmed a “buy” rating on shares of Equinix in a research note on Thursday, May 1st. Bank of America began coverage on Equinix in a report on Monday, May 19th. They issued a “buy” rating and a $1,000.00 price objective for the company. Finally, Citizens Jmp upgraded shares of 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, twenty have assigned a buy rating and six have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $1,004.80.

Equinix Price Performance

EQIX stock opened at $876.81 on Tuesday. The stock has a market capitalization of $85.77 billion, a price-to-earnings ratio of 102.55, a PEG ratio of 1.78 and a beta of 0.97. The firm’s 50-day moving average price is $828.47 and its two-hundred day moving average price is $891.08. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix has a 12-month low of $701.41 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same quarter in the previous year, the business earned $8.86 EPS. Equinix’s revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that Equinix will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 annualized dividend and a yield of 2.14%. Equinix’s dividend payout ratio (DPR) is presently 195.01%.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the transaction, the director now owns 17,569 shares of the company’s stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider now owns 1,842 shares in the company, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently made changes to their positions in the business. Pinney & Scofield Inc. bought a new position in Equinix in the 4th quarter worth approximately $28,000. Activest Wealth Management lifted its holdings in shares of Equinix by 121.4% in the first quarter. Activest Wealth Management now owns 31 shares of the financial services provider’s stock worth $25,000 after buying an additional 17 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Equinix during the fourth quarter worth $31,000. GKV Capital Management Co. Inc. bought a new position in shares of Equinix during the 1st quarter valued at about $30,000. Finally, Pacific Center for Financial Services grew its position in shares of Equinix by 65.2% during the fourth quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

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.