Equinix (NASDAQ:EQIX) Given a $850.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $850.00 price target on Equinix (NASDAQ:EQIX) in a research report report published on Thursday, Marketbeat reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on EQIX. Barclays increased their price objective on shares of Equinix from $834.00 to $837.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 27th. Citigroup raised their price target on shares of Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Mizuho cut their price target on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a report on Friday, March 28th. Stifel Nicolaus increased their price objective on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, New Street Research raised Equinix to a “strong-buy” rating in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat, Equinix presently has an average rating of “Buy” and a consensus target price of $977.30.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $745.53 on Thursday. The company has a market cap of $72.93 billion, a PE ratio of 77.50, a P/E/G ratio of 1.07 and a beta of 0.97. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The firm has a 50-day simple moving average of $867.36 and a 200 day simple moving average of $882.41. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating analysts’ consensus estimates of $9.01 by $0.66. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. Equinix’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.86 earnings per share. On average, sell-side analysts anticipate that Equinix will post 33.1 EPS for the current year.

Equinix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix’s dividend payout ratio is currently 195.01%.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $15,274,664.29. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer now owns 9,615 shares in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,176 shares of company stock valued at $2,808,008 in the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Equinix

Several large investors have recently made changes to their positions in EQIX. Legacy Financial Advisors Inc. grew its holdings in Equinix by 3.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 360 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 11 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider’s stock valued at $713,000 after buying an additional 12 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Equinix by 40.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 12 shares during the period. Signaturefd LLC lifted its position in Equinix by 0.8% during the 1st quarter. Signaturefd LLC now owns 1,450 shares of the financial services provider’s stock worth $1,182,000 after acquiring an additional 12 shares during the last quarter. Finally, AE Wealth Management LLC boosted its holdings in Equinix by 5.1% during the first quarter. AE Wealth Management LLC now owns 248 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 12 shares during the period. 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.