Equinix (NASDAQ:EQIX) Raised to Overweight at Wells Fargo & Company

Equinix (NASDAQ:EQIX) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued on Tuesday, Marketbeat.com reports. The firm presently has a $875.00 price objective on the financial services provider’s stock, up from their previous price objective of $825.00. Wells Fargo & Company‘s price target would indicate a potential upside of 10.18% from the company’s current price.

A number of other research firms have also recently commented on EQIX. Mizuho began coverage on shares of Equinix in a research report on Thursday, July 11th. They set an “outperform” rating and a $873.00 target price for the company. TD Cowen decreased their price target on shares of Equinix from $862.00 to $859.00 and set a “buy” rating for the company in a report on Friday, May 10th. The Goldman Sachs Group began coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target for the company. Morgan Stanley decreased their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Finally, Barclays raised their price target on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and an average price target of $875.50.

Equinix Trading Down 1.1 %

NASDAQ:EQIX opened at $794.15 on Tuesday. Equinix has a 52 week low of $677.80 and a 52 week high of $914.93. The firm has a 50 day moving average of $771.64 and a 200 day moving average of $797.48. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $75.37 billion, a price-to-earnings ratio of 79.65, a PEG ratio of 2.76 and a beta of 0.68.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the sale, the director now owns 17,641 shares in the company, valued at $14,341,780.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Equinix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Equinix by 1.9% in the first quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after purchasing an additional 238,815 shares during the period. Cohen & Steers Inc. grew its position in shares of Equinix by 0.5% in the fourth quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after purchasing an additional 13,988 shares during the period. Norges Bank acquired a new stake in shares of Equinix in the fourth quarter valued at about $1,574,132,000. Principal Financial Group Inc. grew its position in shares of Equinix by 14.9% in the first quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock valued at $1,361,224,000 after purchasing an additional 213,740 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after purchasing an additional 47,795 shares during the period. 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.