Equinix, Inc. (NASDAQ:EQIX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Equinix, Inc. (NASDAQ:EQIX) have earned an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $959.6364.

EQIX has been the subject of several research analyst reports. Zacks Research cut shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Scotiabank decreased their price target on shares of Equinix from $965.00 to $959.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, January 14th. BMO Capital Markets raised shares of Equinix from a “market perform” rating to an “outperform” rating and set a $900.00 target price on the stock in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. Finally, Wall Street Zen cut Equinix from a “hold” rating to a “sell” rating in a report on Saturday, January 10th.

Insider Activity

In other Equinix news, CFO Keith D. Taylor sold 2,051 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.17, for a total value of $1,649,352.67. Following the completion of the transaction, the chief financial officer directly owned 26,373 shares of the company’s stock, valued at approximately $21,208,375.41. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles J. Meyers sold 5,087 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $778.47, for a total transaction of $3,960,076.89. Following the transaction, the chairman owned 10,426 shares in the company, valued at $8,116,328.22. The trade was a 32.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,590 shares of company stock worth $15,366,046 over the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Equinix

A number of institutional investors and hedge funds have recently made changes to their positions in EQIX. Westside Investment Management Inc. boosted its position in shares of Equinix by 190.9% in the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares during the last quarter. Ameriflex Group Inc. increased its stake in shares of Equinix by 433.3% in the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 26 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Equinix in the 2nd quarter valued at approximately $26,000. Bank of Jackson Hole Trust increased its stake in Equinix by 70.0% in the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 14 shares in the last quarter. Finally, Abound Wealth Management raised its holdings in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 23 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

NASDAQ EQIX opened at $816.15 on Thursday. The stock’s 50-day moving average is $767.05 and its two-hundred day moving average is $783.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. Equinix has a fifty-two week low of $701.41 and a fifty-two week high of $953.41. The firm has a market cap of $80.14 billion, a P/E ratio of 74.74, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, October 29th. The financial services provider reported $9.83 EPS for the quarter, topping the consensus estimate of $9.27 by $0.56. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.33 billion. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $9.05 EPS. On average, analysts anticipate that Equinix will post 33.1 earnings per share for the current fiscal year.

Equinix Company Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.