Truist Financial Raises Equinix (NASDAQ:EQIX) Price Target to $935.00

Equinix (NASDAQ:EQIX) had its price target hoisted by Truist Financial from $915.00 to $935.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on the stock. Barclays lifted their price objective on shares of Equinix from $669.00 to $671.00 and gave the company an equal weight rating in a research note on Thursday, May 30th. Mizuho started coverage on shares of Equinix in a research note on Thursday, July 11th. They issued an outperform rating and a $873.00 price objective for the company. TD Cowen lifted their price objective on shares of Equinix from $859.00 to $865.00 and gave the company a buy rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Equinix from $880.00 to $910.00 and gave the company a buy rating in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group began coverage on shares of Equinix in a research note on Monday, July 1st. They issued a buy rating and a $870.00 price objective for the company. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Equinix has an average rating of Moderate Buy and an average target price of $876.71.

Equinix Trading Up 1.1 %

NASDAQ:EQIX opened at $827.96 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $78.58 billion, a PE ratio of 83.05, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The firm’s 50 day moving average is $787.68 and its 200 day moving average is $796.30. Equinix has a 12 month low of $677.80 and a 12 month high of $914.93.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a return on equity of 7.73% and a net margin of 11.32%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $8.04 EPS. Sell-side analysts expect that Equinix will post 31.23 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be given a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 2.06%. Equinix’s dividend payout ratio (DPR) is presently 170.91%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goelzer Investment Management Inc. grew its position in Equinix by 0.3% in the fourth quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock worth $3,364,000 after acquiring an additional 13 shares in the last quarter. Cypress Capital Group lifted its stake in Equinix by 2.3% in the second quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 13 shares during the last quarter. MRA Advisory Group lifted its stake in Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 13 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Equinix by 3.0% in the first quarter. Lindbrook Capital LLC now owns 487 shares of the financial services provider’s stock worth $402,000 after purchasing an additional 14 shares during the last quarter. Finally, Banco Santander S.A. lifted its stake in Equinix by 2.0% in the first quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other 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.