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

Equinix (NASDAQ:EQIX) had its target price dropped by Barclays from $837.00 to $798.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 5.46% from the company’s current price.

EQIX has been the topic of a number of other research reports. Stifel Nicolaus reduced their price objective on Equinix from $1,050.00 to $1,010.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. The Goldman Sachs Group reduced their price objective on Equinix from $1,020.00 to $880.00 and set a “buy” rating on the stock in a research note on Wednesday, July 2nd. Guggenheim initiated coverage on Equinix in a research note on Thursday. They issued a “buy” rating and a $933.00 price objective on the stock. Wells Fargo & Company reduced their price objective on Equinix from $1,065.00 to $925.00 and set an “overweight” rating on the stock in a research note on Thursday, June 26th. 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, twenty have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $957.05.

Equinix Stock Performance

Shares of NASDAQ:EQIX opened at $756.70 on Friday. The business’s fifty day moving average price is $856.50 and its two-hundred day moving average price is $868.83. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The stock has a market capitalization of $74.02 billion, a price-to-earnings ratio of 78.66, a price-to-earnings-growth ratio of 1.28 and a beta of 0.93. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65.

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

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the 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 transaction, the chief executive officer owned 9,615 shares of the company’s stock, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director owned 17,569 shares of the company’s stock, valued at $15,274,664.29. This trade represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,176 shares of company stock valued at $2,808,008. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Equinix

Large investors have recently modified their holdings of the business. Pinney & Scofield Inc. bought a new stake in shares of Equinix in the fourth quarter worth about $28,000. Activest Wealth Management grew its holdings in shares of Equinix by 121.4% during 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. GKV Capital Management Co. Inc. bought a new position in shares of Equinix during the first quarter worth about $30,000. Atticus Wealth Management LLC bought a new position in shares of Equinix during the second quarter worth about $29,000. Finally, Pacific Center for Financial Services grew its holdings 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 worth $36,000 after buying an additional 15 shares in the last quarter. 94.94% of the stock is currently owned by 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.