Oppenheimer Upgrades Equinix (NASDAQ:EQIX) to “Outperform”

Equinix (NASDAQ:EQIX) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, Briefing.com reports.

A number of other analysts also recently commented on EQIX. Raymond James upped their price objective on Equinix from $885.00 to $910.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 3rd. StockNews.com began coverage on Equinix in a research note on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company reduced their price objective on Equinix from $810.00 to $740.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. JPMorgan Chase & Co. increased their target price on shares of Equinix from $825.00 to $900.00 in a research report on Friday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Equinix from $780.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $824.10.

Equinix Price Performance

EQIX opened at $784.34 on Tuesday. Equinix has a 1 year low of $640.92 and a 1 year high of $821.63. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.05 and a current ratio of 2.05. The company’s 50 day simple moving average is $741.53 and its 200 day simple moving average is $757.42. The stock has a market capitalization of $73.63 billion, a PE ratio of 84.34, a P/E/G ratio of 1.52 and a beta of 0.62.

Insider Activity

In related news, CFO Keith D. Taylor sold 2,000 shares of Equinix stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $790.41, for a total value of $1,580,820.00. Following the completion of the sale, the chief financial officer now owns 20,177 shares in the company, valued at $15,948,102.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO Simon Miller sold 523 shares of Equinix stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $766.77, for a total value of $401,020.71. Following the completion of the transaction, the chief accounting officer now owns 4,262 shares in the company, valued at approximately $3,267,973.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $790.41, for a total value of $1,580,820.00. Following the completion of the sale, the chief financial officer now owns 20,177 shares of the company’s stock, valued at $15,948,102.57. The disclosure for this sale can be found here. In the last three months, insiders sold 8,297 shares of company stock worth $6,232,399. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

A number of hedge funds have recently added to or reduced their stakes in EQIX. Venturi Wealth Management LLC bought a new position in shares of Equinix in the 1st quarter worth about $28,000. Providence Capital Advisors LLC acquired a new position in Equinix in the third quarter valued at approximately $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of Equinix by 65.2% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 38 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 15 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Equinix by 485.7% during the 2nd quarter. Larson Financial Group LLC now owns 41 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 34 shares during the period. Finally, Operose Advisors LLC acquired a new stake in Equinix in the third quarter worth $36,000. Institutional investors and hedge funds own 93.16% 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.