Equinix (NASDAQ:EQIX) Price Target Lowered to $1,010.00 at Stifel Nicolaus

Equinix (NASDAQ:EQIX) had its target price lowered by Stifel Nicolaus from $1,050.00 to $1,010.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also issued reports on EQIX. BMO Capital Markets set a $850.00 price target on Equinix and gave the company a “market perform” rating in a research report on Thursday. BNP Paribas raised Equinix to a “strong-buy” rating in a research note on Thursday, May 1st. TD Securities lifted their price target on Equinix from $978.00 to $1,018.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Citigroup upped their price objective on shares of Equinix from $970.00 to $990.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Equinix from $1,065.00 to $925.00 and set an “overweight” rating for the company in a report on Thursday. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and six have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $977.30.

Equinix Price Performance

Equinix stock opened at $745.53 on Thursday. The company has a fifty day simple moving average of $867.36 and a 200-day simple moving average of $882.41. The firm has a market capitalization of $72.93 billion, a price-to-earnings ratio of 77.50, a PEG ratio of 1.07 and a beta of 0.97. 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 has a 52-week low of $701.41 and a 52-week high of $994.03.

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

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Wednesday, May 21st. Equinix’s payout ratio is 195.01%.

Insiders Place Their Bets

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the completion of the transaction, the chief executive officer now directly owns 9,615 shares of the company’s stock, valued at $8,508,409.65. The trade was a 23.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kurt Pletcher sold 127 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total transaction of $111,467.90. Following the sale, the insider now directly owns 1,842 shares in the company, valued at $1,616,723.40. This represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock worth $2,808,008 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Equinix

Institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. boosted its holdings in Equinix by 61.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock valued at $7,946,000 after purchasing an additional 3,212 shares during the period. First United Bank & Trust acquired a new stake in Equinix in the 1st quarter valued at about $451,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Equinix by 20.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider’s stock valued at $93,807,000 after purchasing an additional 17,084 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Equinix by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock valued at $1,107,860,000 after buying an additional 40,791 shares during the period. Finally, LGT Group Foundation grew its position in shares of Equinix by 2.2% during the fourth quarter. LGT Group Foundation now owns 24,028 shares of the financial services provider’s stock worth $22,656,000 after buying an additional 511 shares in the last quarter. Institutional investors and hedge funds 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.