Analysts Set Equinix, Inc. (NASDAQ:EQIX) Target Price at $869.00

Equinix, Inc. (NASDAQ:EQIX) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $869.00.

EQIX has been the topic of a number of recent analyst reports. Wolfe Research raised Equinix from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, January 2nd. BMO Capital Markets boosted their price objective on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Stifel Nicolaus reissued a “buy” rating and issued a $960.00 price objective on shares of Equinix in a research note on Wednesday, March 13th. Morgan Stanley dropped their price objective on Equinix from $785.00 to $767.00 and set an “equal weight” rating on the stock in a research note on Friday, December 8th. Finally, Oppenheimer boosted their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th.

Insider Transactions at Equinix

In other news, Chairman Camp Peter Van sold 122 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Chairman Camp Peter Van sold 122 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Lin sold 624 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $809.66, for a total value of $505,227.84. Following the completion of the transaction, the executive vice president now directly owns 5,671 shares of the company’s stock, valued at $4,591,581.86. The disclosure for this sale can be found here. Insiders sold a total of 18,282 shares of company stock valued at $14,788,771 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Equinix

Several institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in Equinix during the fourth quarter valued at $1,574,132,000. Osaic Holdings Inc. grew its holdings in Equinix by 6,589.5% during the second quarter. Osaic Holdings Inc. now owns 1,228,384 shares of the financial services provider’s stock valued at $14,732,000 after purchasing an additional 1,210,021 shares during the period. Principal Financial Group Inc. grew its holdings in Equinix by 44.6% during the third quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after purchasing an additional 431,435 shares during the period. Legal & General Group Plc grew its holdings in Equinix by 20.8% during the fourth quarter. Legal & General Group Plc now owns 1,339,446 shares of the financial services provider’s stock valued at $1,078,777,000 after purchasing an additional 230,300 shares during the period. Finally, Morgan Stanley grew its holdings in Equinix by 26.5% during the fourth quarter. Morgan Stanley now owns 854,549 shares of the financial services provider’s stock valued at $559,756,000 after purchasing an additional 179,023 shares during the period. 94.94% of the stock is owned by institutional investors.

Equinix Trading Up 1.9 %

NASDAQ EQIX opened at $815.31 on Monday. The firm has a market capitalization of $77.14 billion, a PE ratio of 79.08, a price-to-earnings-growth ratio of 1.89 and a beta of 0.59. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The business’s 50-day moving average price is $849.93 and its two-hundred day moving average price is $798.15. Equinix has a 12 month low of $672.88 and a 12 month high of $914.93.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

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.